06/29/2020 | Press release | Distributed by Public on 06/28/2020 18:17
28 June 2020 - WCM Beteiligungs- und Grundbesitz AG (the 'Company' and together with its subsidiaries 'WCM') and certain of its subsidiaries entered into an agreement with an investor focused on retail properties for a disposal of a retail property portfolio located in various locations across Germany for a sale price of approx. EUR 28 m and in addition for another retail property portfolio with an aggregate sale price of approx. EUR 90 m for which the buyer has a discretionary rescission right until August 31, 2020.
The sale of the portfolio is above book value and is in line with the Company's strategy to increase the focus on office asset type and pursue disposals of non-core assets.