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Mr Michael Bremen from PLUTA Rechtsanwalts GmbH concluded the sale of the real estate portfolio known as Treveria Silo-C yesterday. The contract for the sale of the Hertie and Mensing premises to the City of Rheine was notarised in Düsseldorf. Since August 2010, the PLUTA expert Michael Bremen has been the insolvency administrator for 36 German companies. The purpose of these companies is to own and manage the properties they hold. The real estate portfolio consists primarily of large retail premises. The acquisition was financed by means of an aggregate loan facility.
PLUTA expert Michael Bremen explained: “We made the right decision at the beginning of the proceedings and instead of selling the portfolio as a whole, we sold the retail centres and stores successively. Developments in the real estate market following the economic and financial crisis were certainly in our favour.”
By acquiring the centrally located Hertie and Mensing complex of stores, the City of Rheine is pursuing a change in strategy in order to revitalise the town centre.
The restructuring expert Michael Bremen and his well-reputed law firm joined PLUTA Rechtsanwalts GmbH on 1 March 2017.