PATRIZIA AG, the global partner for pan-European real estate investment, announces the sale of a retail portfolio totalling 68 properties in Germany to a fund managed by GPEP, a management platform specialised in supermarkets and retail parks across Germany.
The portfolio provides approximately 122,000 sqm of total rental space in established retail locations, which are anchored by the leading German food retailers such as Edeka, Lidl, Netto, Penny and Rewe.
PATRIZIA has increased the portfolio’s WALT significantly through a programme of active management, optimising value on behalf of its investors.
PATRIZIA manages more than EUR 7 billion in the retail sector throughout Europe with the majority invested in the German food retail sector.
Source : Company