Custom House Captial, which invests on behalf of Irish clients has completed the purchase of the Maximillian Retail Centre in Wörth, Germany, after finalising a €52.8m (£41.6m) funding deal with Hypo Real Estate.
The deal, struck with Hypo Real Estate Bank International, was announced today.
The Maximillian Retail Centre, on the junction of the B10 and the A5 roads near the River Rhine, comprises a single-storey shopping centre and DIY store of 134,550 sq ft. It is 92% occupied and is let to 35 tenants.
It is the sixth time Custom House, which was set up in 1997, has bought property using financing from Hypo Real Estate.