EQS-News: CGREAG sells retail park in Plagwitzer Höfe quarter in Leipzig

Press Release

CGRE^AG sells retail park in Plagwitzer Höfe quarter in Leipzig

Leipzig, May 20, 2025 - CGRE^AG, a publicly listed real estate platform, operating nationwide in Germany has sold a retail park, which is part of the Plagwitzer Höfe quarter development in Leipzig, to REWE Group. Since 2007a great number of new and old buildings have been developed, modernized and renovated in the commercially contiguous areas. The food retail market was newly erected in 2016 and complements the historic portfolio. Overall, the area sold represents around 20 percent of the company’s total rental space in the district.

The commercial unit consisting of a full-range retailer, discount retail stores, a beverage market and a hardware store has now been divested. The purchase price will be used on a pro rata basis to repay project-related loan positions, thus building up additional liquidity in this currently highly dynamic investment environment.

CGRE^AG executive Board member Jürgen Kutz emphasizes: "The successful sale in a difficult market environment underlines our focus towards the newly implemented business model. Our strategy includes the completion of project developments and their placement with institutional investors and market participants".

Ronald Pofalla, executive Board speaker of CGRE^AG, emphasizes: “The careful implementation and completion of construction measures for high-quality retail and specialist stores enable sustainable and stable sales returns”.

CGRE^AG took over the urban quarter at the beginning of last year and, as part of the strategic portfolio adjustment, partially sold a total rental area of around 19,000 m² through an asset deal. The acquiring party, REWE Group, has been based in the quarter since 2016 and is thus further expanding its long-term commitment to the location. The parties have agreed not to disclose the purchase price.

CGRE^AG was advised on legal matters by Michael Schmidt and on tax matters by Antje Dominiak with the support of Richard Preuß from ADO Advisory. The transaction was brokered by Lars Kuchenbuch of IKP Real Estate Group.

 

About CGRE ^AG
CGRE^AG is a real estate company based in Leipzig, listed on the basic board of the Frankfurt Stock Exchange. The corporation operates in three segments with different exposures: income-generating real estate properties (Yield), project developments with a medium-term completion horizon (Growth) as well as land development (Site). In addition to traditional portfolio management, the company will focus on the development of modern and sophisticated urban quarters.

Contact:
Jürgen Kutz
CEO

aktie@cgre.ag