30th March 2016

German Asset Management acquires shopping centre in Frankfurt (Oder)

German Asset Management has acquired the Lenné-Passagen in the central retail and business district of Frankfurt (Oder). The investment volume is in the mid tens of millions of euros. “This shopping centre is the most important retail destination in the city, and attracts customers from all over the region,” explained Andreas Lewandowski, Managing Director of German Asset Management GmbH. Situated at a prime, city-centre location, the Lenné-Passagen has almost 30,000 sqm of rentable space. The shopping centre's tenants include MediMax, Reno, Ego men's fashion, DM, Gerry Weber and H&M. The centre's car park provides spaces for 385 vehicles.
A glazed pedestrian bridge connects the shopping centre with the Oderturm, directly opposite. At 90 metres, the Oderturm is the tallest office building in the state of Brandenburg, and is one of Frankfurt an der Oder's major landmarks.

About German Asset Management

German Asset Management (GAM) is an investment and asset management company with a focus on commercial property investments in Germany's metropolitan regions and selected B cities. The company's immediate target is to develop a property portfolio with a combined value in the mid hundreds of millions of euros. GAM acquires properties in the core-plus and value-add segment. Since its founding in 2015, GAM has invested around €150 million in office and retail properties in Germany. These properties are located across the whole of the country, in cities such as Berlin, Dresden, Leipzig, Erfurt and Hannover. German Asset Management's Managing Directors are Rainer Schorr and Andreas Lewandowski. Between them, they have amassed decades of experience in the property investment sector. The company's headquarters are in Berlin.

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