Cork company announce German acquisition

CMC Capital, the Cork-based wealth management and property investment company, has announced the completion of a €65m property deal to purchase a well-known shopping centre in Hamburg, Germany.

The Bahnhof Altona shopping centre is situated in a prime location at the city’s Altona rail station, which is used by 100,000 city commuters every day.

Director of CMC Capital Richard Kingston said: "We are pleased to have acquired such a prestigious property for our investors. The property contributes to the positive cash flows of the syndicate thanks to the relatively high yield, and it also has excellent capital appreciation prospects."