Frankfurt, 03-12-2020. CA Immo have notarized the binding sale of a c. 10,000 sqm non-core development site in Dortmund to Teckenburg Development GmbH with final closing to occur in Q1 2021. The sale was achieved at a premium of c. 1,100% to Q3 book value.

Christof Altendorfer, Head of Investment Management Germany:  “We are delighted with the successful disposal of a sub-scale development plot in a non-core regional city at a material premium to book value. This disposal is in line with our strategic focus to concentrate our portfolio on the key German metropolitan cities where we have local teams on the ground and the expertise to deliver attractive, long term returns for our stakeholders. Proceeds will be recycled into CA Immo’s pipeline of investment opportunities across the spectrum of standing assets and development projects.”

Colliers International and the law firm GÖRG Rechtsanwälte advised CA Immo on the sale.