Arzan Wealth (DIFC) Limited (‘Arzan Wealth’), a Dubai-based advisory firm regulated by the Dubai Financial Services Authority, is pleased to announce that it has advised on the acquisition of a newly refurbished downtown retail asset (“the Property”) in Krefeld, Germany.
The Property is fully leased to a diverse mix of high-quality retailers under long term leases.
The asset is located in a prime downtown location in the city of Krefeld, which is in the administrative district of Dusseldorf, the sixth largest city in Germany.
The multitenanted Property comprises ~21,900 sqm of inner city retail space in a multi-level, completely renovated structure. It provides a secure income stream from a diversified mix of household name retail tenants, including the successful retailer Primark, Toys “R” Us, and Rossmann, Germany’s 2nd largest pharmacy chain, in addition to a gym operator and a self-storage facility.
Arzan Wealth acted as the Strategic Advisor on the structuring and acquisition of the Property, in joint venture with the Investment Advisor, 90 North Real Estate Partners, a strategic partner of Arzan Wealth.
Muhannad Abulhasan, CEO of Arzan Wealth said: “Arzan Wealth continues to arrange and advise on stable and income producing assets in major global markets. Our Krefeld acquisition offers a unique, city-center urban retail experience in the heart of an important economic center in Germany, the largest national economy in Europe.”
“With this second German transaction, Arzan Wealth reinforces its strategy of seeking high quality deals that are safe, secure and can produce a predictable and attractive monthly income for our clients,” he added.