Silverton Group sells Nuremberg property from non-performing loan portfolio to Lauer Immobiliengruppe
The Silverton Group (Silverton), an integrated investment and asset management platform for commercial property and loans secured on real estate, has disposed of a logistics property in Nuremberg to the locally-based Lauer Immobiliengruppe.
The parties have agreed not to disclose the purchase price.
The asset, situated in Edisonstrasse, is part of a non-performing loan portfolio, for which Silverton took over the loan and real estate asset management in 2018. The property, which was constructed in 1976 and refurbished in 2005, stands on a 21,000 square metre site. It provides a lettable area of approximately 13,600 square metres, around 10,700 square metres of which is logistics space, with some 2,900 square metres of office and staff accommodation. It is currently 86% let, with full occupancy anticipated shortly.
Stefan Dölker, a partner at Silverton, comments: “Our intensive on-site asset management was a major key to our success. This enabled us to succeed in acquiring prospective tenants for the office space – which had stood vacant for some 20 years – and to return the property to the market. We were able to take advantage of our network and the trust we have earned through our past activities in the industry, to achieve a good result for our client.
Cushman & Wakefield facilitated the sales process.