Off-Market Sales Process
Transaction Management incl. Q&A Process
Sale of Asset during ongoing refurbishment program
Center und Property Manager
Leasing Agent
Seller: Chenavari
Buyer: Rockspring
Price: ca. €120 Mio.
Flora Park with a net lettable area of ca. 66,500 m2 is a dominant shopping-centre in Magdeburg and its region.
With a purchase price of ca. EUR 120m the sale was not only the largest individual sale for ESTAma but also the most complex due to the ongoing refurbishment program started by the seller.
Thanks to close cooperation between the investment team and ESTAma’s leasing, property and centre management teams we were able to provide the buyer with detailed responses in the Q&A process.
With Rockspring we found a partner that understood the value of this asset and had the competence to take on the complexities of the property.