German real estate investment company Captiva has paid €96m to buy a portfolio of retail properties from Patrizia.
Patrizia said the portfolio of seven properties, comprising 71,000sqm of total rental space, is fully let to European DIY retailer OBI on long leases.
The assets are located in Vechta, Neuss, Schwelm, Siegen-Weidenau, Haiger, Pirna and Stadtbergen.
Philipp Schaper, head of transactions Europe at Patrizia, said: “We were pleased to work with OBI to secure their long-term future in each of these locations.
“This helped them create a sustainable and stable environment for their business and, in turn, this sale has created value for our client.”
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