Stenprop on its way to being a fully focused multi-let Reit iol.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from iol.co.za Daily Mail and Mail on Sunday newspapers.
DISPOSAL OF BERLIN SHOPPING CENTRE FOR €30.8 MILLION Hermann Quartier sale will conclude €95 million of non-core disposals in the financial year to date at an average of 18% above March valuation, providing further capital to recycle into multi-let industrial Stenprop, the UK multi-let industrial ( MLI ) property company, announces that it has exchanged contracts on the sale of its freehold interest in the Hermann Quartier shopping centre in Berlin, Germany (the disposal ) to Munich based firm ILG Capital GmbH, acting on behalf of the regulated special property fund ILG Einkaufen D managed by IntReal International Real Estate Kapitalverwaltungsgesellschaft mbH, for € 30.8 million. The disposal price is in line with the 30 September book value^ and reflects a 19% premium to the 31 March 2020 valuation.