News | Press Release

Becken buys residential and commercial building on Westerland/Sylt

Hamburg/Sylt, December 19, 2022

• Property in central downtown location
• Fully let with a good mix of uses and 8 apartments
• Total rental space is just under 1,700 square meters
• Property and commercial building for the pool portfolio

Becken, a specialist in the development, construction, and long-term asset and investment management of commercial and residential real estate, acquired a mixed-use residential and commercial building from abrdn Investments Deutschland AG on November 30. The property was part of “WertFonds S,” an open-ended special AIF managed by ACTEUM Investment GmbH. The property, located at Friedrichstraße 19, 25980 Westerland/Sylt, is situated in a central downtown location in the heart of the shopping district. It offers 1,697 square meters of leasable space and is fully leased. Major tenants include the home furnishings store Depot, the Swiss lingerie retailer Calida, and the men’s fashion store NZA New Zealand Auckland.

Built in 2010, the building has four storeys, with the third and fourth storeys set back as staggered storeys. The building is characterized by its modern architecture, which ensures a high incidence of light into the interior spaces thanks to the fronts being completely fitted with glass. The commercial building has 21 underground parking spaces.

Jens Hogekamp, Managing Director of Becken Asset Management GmbH: "We are delighted to have acquired this prominent property in a top retail location on Sylt. The purchase shows that there are good opportunities in the current difficult market phase. With this acquisition, Becken now has a total of three core properties in Westerland on Sylt in its portfolio, in addition to the recently completed residential and commercial building in Wilhelmstrasse and the mother-child clinic."

The contracting parties agreed not to disclose the purchase price. Wiegel Ihde Ekrutt + Partner mbB and Oberthür & Partner Rechtsanwälte mbB, Hamburg, provided legal and tax advice to the buyer. Jones Lang LaSalle, Hamburg, acted as advisor to the seller in the transaction. abrdn Investments Deutschland AG acts for the open-ended domestic special AIF "WertFonds S", which is managed by ACTEUM Investment GmbH. ACTEUM Investment GmbH is a company of the LBBW Immobilien Group. The seller received legal and tax advice from GSK STOCKMANN, Frankfurt.