New owner for Seemaxx outlet center
The Swiss family office H Sat has sold the Seemaxx outlet center in Radolfzell on Lake Constance in Germany.
The Seemaxx outlet center was acquired by financial group Quilvest Capital Partners and Frankfurt-based real estate investment company Kintyre, the two companies said.
The property in the center of Radolfzell and overlooking Lake Constance comprises a total of 35,000 sqm of commercial space. In addition to the Seemaxx factory outlet center, the property also houses logistics and storage units as well as the Kesselhaus office building.
As part of the transaction, Quilvest Capital Partners and Kintyre will acquire Hesta Beteiligungs-GmbH, which owns and operates the property. The deal is expected to close by the end of the year.
Quilvest and Kintyre were legally advised by the law firm Hogan Lovells. The seller H Sat had engaged JLL for the sale and the law firm Heussen for legal advice.
"We rate this property as very attractive due to its mix of diversified cash flows and various improvement opportunities, particularly for the Seemaxx factory outlet center, which is located in a high-income catchment area," said Patrick Laroche, CIO Real Estate for Europe and Asia at Quilvest Capital Partners. (ah)
