Hayfin today announces the acquisition of Gropius Passagen, Berlin’s largest shopping centre, from Nuveen and Unibail-Rodamco-Westfield. With around 95,000 sqm of lettable retail space, more than 150 tenants, and annual tenant turnover exceeding €200 million, Gropius Passagen is the dominant retail destination in Berlin’s Neukölln district and one of Germany’s premier shopping centres.

Following the acquisition, Pradera, a leading retail real estate investment management specialist will act as asset manager on behalf of Hayfin. Pradera will oversee a capital expenditure programme aimed at enhancing the centre, including the introduction of new medical space, improved accessibility, and a reconfiguration of selected 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.”

JLL, Gleiss Lutz and Macfarlanes advised Hayfin on the transaction. CBRE and ambas acted on behalf of the vendor with Hauck Schuchardt as legal advisor.