Schomaker Baugruppe Acquires Vechte Arkaden Shopping Center in Nordhorn in Third Highstreet VIII Fund Disposition
NORDHORN, Germany — Regional developer Schomaker Baugruppe has acquired the Vechte Arkaden shopping center in Nordhorn, Lower Saxony, from the insolvency administrator of the Highstreet VIII fund, according to an announcement from JLL dated March 3, 2026. The transaction marks the third retail real estate asset sold from the distressed fund, with JLL acting as advisor and broker for the seller.
Retail Real Estate Transaction Details
The Vechte Arkaden, located at Hagenstraße 10 in Nordhorn near the Dutch border, comprises approximately 7,300 square meters of total lettable area across two floors. The property was originally constructed in 1979 and underwent a modernization in 2002. Anchor tenants include textile chain H&M, which occupies 2,700 square meters; the Centralkaufhaus Ceka department store at 2,000 square meters; Deutsche Bank at 490 square meters; and footwear retailer Schuhpark at 440 square meters.
No sale price was disclosed in connection with the transaction.
Highstreet VIII Fund Insolvency and Capital Markets Context
The property companies within the Highstreet VIII fund entered insolvency in 2025. The insolvency administrator subsequently engaged Hannover Leasing for investment and asset management, and retained JLL to market the fund's retail real estate holdings. The Vechte Arkaden acquisition follows the earlier dispositions of the Stern Center in Sindelfingen and the Shopping Plaza in Garbsen — both also brokered by JLL. According to JLL, the firm identified separate buyers for each of the three assets, with two of the three purchasers being regional investors.
Markus Ritt, Senior Team Leader Central Retail Investment at JLL Germany, is identified in the announcement as the author of the press release, reflecting the firm's retail investment advisory role in the transaction.
JLL's Role and Broader Fund Liquidation
JLL, a global commercial real estate and investment management firm listed on the NYSE, advised the seller across all three Highstreet VIII dispositions. The sequential sale of three distinct retail real estate assets to three separate buyers is noted by JLL in the context of its capital markets execution in a distressed disposition process.
The completion of the Vechte Arkaden sale brings the known Highstreet VIII retail real estate liquidation to at least three assets. Whether additional properties from the fund remain to be sold was not disclosed in the announcement.