Hayfin acquires Berlin shopping centre Gropius Passagen

European alternative asset manager Hayfin has acquired Gropius Passagen, Berlin's largest shopping centre, from Nuveen and Unibail-Rodamco-Westfield. 

Gropius Passagen

Boasting approximately 95,000 m2 of retail space, over 150 tenants, and an annual tenant turnover exceeding €200 mln, Gropius Passagen is a premier shopping destination in Berlin's Neukölln district and a top centre in Germany.
Following the acquisition, Pradera, a specialist in retail real estate investment management, will take over as asset manager for Hayfin. Pradera plans to implement a capital expenditure program to enhance the center, which includes adding new medical facilities, improving accessibility, and reconfiguring some retail units.
Carlos Colomer, managing director at Hayfin, said: “Gropius Passagen offers high-quality exposure to the opportunity we currently see within European shopping centres. It’s a locally dominant scheme in continental Europe’s largest retail market with a large and diversified portfolio of long-term tenants, combining defensive qualities with significant value-add potential. We’re looking forward to working with Pradera to upgrade the asset further and enhance the experience for Gropius Passagen’s loyal customers and retailer partners.”
For this transaction, Hayfin was advised by JLL, Gleiss Lutz, and Macfarlanes. The sellers were represented by CBRE and ambas, with Hauck Schuchardt providing legal counsel.