German Landlord Branicks Puts Sales Signs Up as Debt Deadline Looms
- Branicks seeks to extend terms for some 2024 obligations
- Firm aims to raise €170 million through sale of retail assets
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Branicks AG is marketing a portfolio of retail assets as the German real estate company battles to raise cash, with a first deadline on debt negotiations just a month away.
Branicks is seeking about €170 million ($184 million) for the properties, according to people familiar with the matter, who asked not to be identified because they’re not authorized to speak publicly. The push to sell the assets coincides with talks to extend the terms on more than €400 million of its obligations for 2024.