INVESTIKA Real Estate Fund is entering the German real estate market with an 89.9 percent stake in the Höfe am Brühl shopping centre in Leipzig. The transaction was signed in a joint venture with Unibail‑Rodamco-Westfield Germany, which is to remain a minority shareholder and will continue to provide asset and property management services.
The acquisition will mark the Fund’s sixth market entry, expanding its European footprint and reinforcing its retail strategy. Once the transaction is closed, with Höfe am Brühl, INVESTIKA Real Estate Fund will hold 65 assets across multiple countries and thus further diversify its portfolio both geographically and across asset classes. The retail share of the portfolio will increase accordingly. Closing of the transaction is estimated in H1 2026.
“The acquisition of Höfe am Brühl will strengthen our strategic objective to increase the Fund’s exposure to high‑quality retail assets. It is a robust and established asset in one of Germany’s fastest‑growing regional markets. The joint-venture with Unibail-Rodamco-Westfield, the recognised specialist in shopping‑centre management, provides us with strong operational continuity and expertise,” comments Jaroslav Kysela, Member of the Board of Directors at INVESTIKA Investment Company that manages INVESTIKA Real Estate Fund.
“We are pleased to announce the sale of a major stake of Höfe am Brühl in Leipzig to Investika. We are looking forward to this partnership and the promising future of the centre. This step is closely in line with our previously communicated strategic focus on our core owned assets in Germany”, says Martin Makovec, Managing Director, M&A, Unibail-Rodamco-Westfield Central Europe.
Key Facts About the Acquisition
- Majority investment: 89.9% stake to be acquired by INVESTIKA Real Estate Fund.
- The Seller, Unibail‑Rodamco Westfield Germany, will remain a minority shareholder and will continue to act as Asset & Property Manager.
- Asset: Höfe am Brühl, a major shopping destination in Leipzig with a gateway location between the main railway station and the city’s principal shopping street.
- Catchment area: approx. 800,000 inhabitants.
- Scale & mix: The centre offers 50,500 sqm of retail space, 130 shops, and key anchor tenants including Bershka, Pull&Bear, Müller, Media Markt, H&M, and Lidl.
- Additional components include 4,900 sqm of space for offices and 31 apartments
- 820 parking spaces
- Sustainability certificates: DGNB Platinum and BREEAM Excellent
ESG & Operational Excellence
The centre ranks among the top sustainable retail assets in the region thanks to:
- DGNB Platinum and BREEAM Excellent certifications
- 100% renewable electricity use
- LED lighting and energy‑efficient operations
- EV chargers in the parking
- Green lease agreements, already signed by many tenants
These features align with INVESTIKA’s long‑term focus on sustainable, resilient assets offering stable returns.
Why is INVESTIKA entering the German Real Estate Market?
“INVESTIKA Real Estate Fund is one of the few Czech investors that is entering the German real estate market. Driven by our diversification strategy and the pursuit of optimal transaction conditions, we are expanding into Germany, one of Europe’s most mature markets. Despite its overall stability, a recent price correction in the commercial sector presents a strategic opportunity, making this acquisition a logical fit for a high-quality, diversified portfolio,” comments Jaroslav Kysela, adding, “our German market entry in a joint venture with experienced partners minimises our exposure towards risk. It is our favourite way of cooperation, proven in our previous acquisitions, which we wish to continue. Last but not least, our German market entry enables us to cooperate with prestigious German banks.”
INVESTIKA Real Estate Fund is represented by the following advisors: Dentons, Ernst & Young, Drees & Sommer and Knight Frank. Unibail-Rodamco-Westfield Germany is represented by Norton Rose Fulbright.
