Savills Investment Management has sold a retail park in Germany to Redevco for an undisclosed price.
The Bahnhofsarkaden property, located in the Baden-Württemberg region of the Allgäu, 140 miles from Munich, was held by Savills IM’s European Commercial Fund (ECF).
The pan-European fund, launched in 2008, is diversified across the office, retail, and logistics sectors, and now holds 18 properties in 10 countries following this deal. Various German institutional investors are invested in the fund.
Redevco has purchased the 13,000sqm asset, spread across five units, on behalf of its European Retail Parks Fund.
Anchor tenants include supermarket group REWE and discount retailer Lidl. Other tenants include chemist chain dm-drogerie markt, and Woolworth. At the end of 2024, non-food discounter Action was also secured as a new tenant.
Norbert Stangelmayer, director fund management at Savills IM, said: “Through active management of the retail park, we were able to achieve attractive performance and stable distribution yields throughout the entire holding period. Given the continued demand for retail parks, we have now successfully sold the property.
“The sale forms part of the strategic management of our ECF, within which the allocation to the logistics segment is intended to be further increased.”
Tim Ulrich, head of transaction management Germany, Austria & Switzerland at Savills IM, added: “Even though the real estate investment market remains generally subdued, we are seeing individual compelling opportunities.
“For various funds and mandates, we are actively seeking additional properties in Germany and across Europe that benefit from positive economic and demographic trends and meet high sustainability standards.
“Our focus is clearly on the logistics, residential, grocery retail, and office sectors. We will also continue to take advantage of opportunities for strategic disposals as they arise.”
CBRE, Hogan Lovells, Real Estate Struccess and Multi Germany GmbH advised Savills IM on the transaction.
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