Winters & Hirsch has advised a closed-end real estate fund based in Berlin on the sale of
two mixed-use office and retail buildings at Neefestraße 40, 42 in Chemnitz to an institutional investor from Luxembourg. The 1996 buildings are situated in the town’s Kappel area.
The properties Neefestraße 40 and 42 sold at 9.5 times the net annual rent. The parties
have agreed not to disclose further details of the purchase price.
The building Neefestraße 40 has approx. 698 sqm of retail space on the ground floor and approx. 2,475 sqm of office space distributed over four upper floors.
The building Neefestraße 42 has approx. 700 sqm of retail space on the ground floor and approx. 2,486 sqm of office space distributed over four upper floors.
Both properties combined have 31 units on approximately 6,358 sqm of floor space. The vacancy rate at the time of sale was around 14.9 per cent.
The buildings come with grounds totalling approximately 4,638 sqm. The plot and the basement parking garage hold around 140 spaces.
Besides acting for the seller with an exclusive mandate, Winters & Hirsch also advised the buyer on this transaction.
Prof. Dr. Neumann Nasdal Wegner Lawyers and Notaries have represented the seller. The buyer was represented by the law firm Heuking Kühn Lüer Wojtek.