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Jun 2019
bcp
Sole Financial Adviser
129 million
a subsidiary of

Brack Capital Properties

Sole Financial Adviser

Kempen acted as Sole Financial Adviser in the sale of a €141 million German retail portfolio for Brack Capital Properties

Transaction highlights

  • Brack Capital Properties (BCP), a subsidiary of ADLER Real Estate (ADLER), sold 29% of their total retail portfolio with a book value of €141.1 million to REDOS acting on behalf of Union Investment Institutional Property
  • Kempen guided the sale process of a sizable portfolio existing of 11 DIY assets located throughout Germany in challenging market conditions
  • This disposal follows the successful sale of 3 retail assets (GAV of €180.6 million) in Q1 2019 resulting in 67% of BCP’s total retail portfolio currently being sold
  • The remaining assets will be sold opportunistically in 2019 / 2020
  • The disposal of the retail portfolio is in line with ADLER's strategy to remain a pure play German residential real estate company
  • Kempen acted as Sole Financial Advisor on the sale

Company description

  • BCP owns and develops residential and commercial properties in Germany since 2004
  • Prior to this transaction, BCP had a €1.8 billion portfolio consisting of 65% multifamily homes, 20% residential development, and 24% retail parks
  • ADLER acquired a 70% stake in BCP in April 2018 through a public offer, in which Kempen acted as adviser to ADLER

Kempen Real Estate credentials

  • Kempen has advised on Real Estate transactions in 11 different countries in Europe since 2017
  • Kempen advised on more than €125 billion of real estate transactions across Europe

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