The struggling department store group Galeria has settled its overdue rent payments for its location at Alexanderplatz in Berlin, according to the real estate investor Commerz Real.
A spokesperson for Commerz Real confirmed that Galeria is the tenant in their property, “The Berlinian” at Alexanderplatz, a department store (formerly a Centrum store during the GDR era) with an adjacent office tower. The spokesperson stated that Galeria has now paid all outstanding invoices.
Despite this payment, Galeria remains under significant economic pressure. Industry sources and landlords have reported that the company has recently experienced rent arrears at several different locations. Consequently, property owners are observing the department store group’s developments with particular attention.
Commerz Real confirmed that with the outstanding demands at “The Berlinian” having been settled, the arrearage at Alexanderplatz is now fully cleared. The company did not disclose the amount of the payments.
