HCOB funds revitalisation of Bremen retail park

Hamburg Commercial Bank (HCOB) is providing a €38 mln loan to a fund managed by Garbe Capital & Strategy.

Duckwitz Bremen

This funding is for the refinancing and revitalisation of the EDU Duckwitz retail park in Bremen, Germany.

The EDU retail park, located about four kilometres southwest of Bremen's city centre, was built in 1983 and has undergone continuous modernisation. It features four buildings with nearly 46,000 square meters of leasable space, housing well-known tenants such as Hornbach, Marktkauf, Aldi, Fitness First, and dm-drogerie markt. As part of the revitalisation, targeted ESG investments will be made, including the installation of photovoltaic panels, electric vehicle charging stations, and LED lighting.

Stefan Hoenen, Head of Commercial Real Estate at Hamburg Commercial Bank, said: “By financing the EDU retail park Bremen, we are supporting our long-standing customer, Garbe, in further developing an established retail park in a strong region of northern Germany. We are delighted to be continuing our successful collaboration.”

Max Klemke, Senior Investment Manager at Garbe Capital & Strategy, added: “Thanks to its location on the main transport routes B75 and A281, and its excellent public transport connections, the EDU retail park has an attractive catchment area. With the planned investments in improved energy efficiency, we are ensuring that the location will remain fit for purpose in the long term.”