German department store chain Hertie, advised by Atisreal, has sold three department stores in Germany for an undisclosed amount. The properties are located in Wesseling between Cologne and Bonn, in Munich Giesing and in Munich Laim. The department store in Wesseling has 8,500 m[sup]2[/sup] of lettable area and 183 parking spaces. It was sold to US project developer and investor Phoenix, which has an office in Bonn. The two Munich assets were acquired by a joint venture of Bucher Properties GmbH from Munich and Development Partner AG from Duesseldorf. The department stores have a total lettable area of 9,000 m[sup]2[/sup].
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