For its second German fund Arab Investments Ltd. London has acquired Sankt Annen Galerie in Brandenburg an der Havel from HGHI Berlin - High Gain House Investments GmbH - for approximately €53 million.
For its second German fund Arab Investments Ltd. London has acquired Sankt Annen Galerie in Brandenburg an der Havel from HGHI Berlin - High Gain House Investments GmbH - for approximately €53 million.
Eurohypo AG Düsseldorf provided financing.
Sankt Annen Galerie is centrally located in Brandenburg's historic Old Town on Neustadt Markt 3.
Set across four floors, the 15,000 sq m building provides a well-balanced mix of retail, leisure and restaurant facilities as well as 400 car parking spaces. The spacious two-storey gallery accommodates a supermarket, a consumer electronics store, a book store and various fashion shops. On ground floor level there are additional retailers such as an optician, a perfumery as well as a drugstore to round off the mix of retailers. Anchor tenants are C&A, dm, Media Markt and REWE.
International real estate advisor Savills has represented Arab Investments Ltd. London in the acquisition of Sankt Annen Galerie in Brandenburg. It is the first property in Arab Investments' second German fund.
Arab Investments Ltd. is a property company based in London specialising in the structuring of Sharia compliant funds for Middle East investors. In 2006 the company had extended its radius of activities from UK to Germany where it is exclusively represented by Savills.
In London Arab Investments Ltd. is currently developing Pinnacle Tower. On completion the 93,000 sqm scheme will be London’s tallest building and one of the highest in Europe.