GSK Stockmann has advised Erwe on the acquisition of the shopping mall Postgalerie in Speyer with an investment volume of approximately EUR 35 million for the purchase and necessary refurbishment.

Postgalerie is Speyer’s largest shopping center. The listed building is located in the city center of Speyer and is to be developed into a modern shopping mall. The current rentable area of 15,300 sqm will be expanded to up to 16,000 sqm. The extensive reconstruction will begin this year and stands for a complete modernisation and change of the structure of the center. To increase the visibility of the shopping center, improvements in advertising opportunities visible from the outside are planned. All existing rental agreements keep their validity. Additional attractive retailers are to be added and the catering segment will also be extended.

The consultation by GSK Stockmann included the negotiation of a highly complex property purchase agreement.

The deal news is available as download.

Advisor Erwe Immobilien:

GSK Stockmann: Dennis Stenzel (Lead, Real Estate), Max Wilmanns (Corporate/M&A/Real Estate), Stephanie Löhrius (Corporate/ M&A/ Real Estate)