Active Asset Investment Management (AAIM) is reportedly entering Germany with the purchase of retail park near Dresden for EUR 40 mln. The transaction reflects an initial yield of 6.5%, magazine Property Week reported. The celebrity-backed private investor syndicate is also buying a shopping mall in Olomouc, the Czech Republic for another EUR 50 mln, or a yield of 6.9%. The group was advised by Clifford Chance for the German deal and Donaldsons and Baker Mackenzie for the Czech transaction.
Active Asset Investment Management (AAIM) is reportedly entering Germany with the purchase of retail park near Dresden for EUR 40 mln. The transaction reflects an initial yield of 6.5%, magazine Property Week reported. The celebrity-backed private investor syndicate is also buying a shopping mall in Olomouc, the Czech Republic for another EUR 50 mln, or a yield of 6.9%. The group was advised by Clifford Chance for the German deal and Donaldsons and Baker Mackenzie for the Czech transaction.
Aaim is also reportedly buying Arena Plaza, Budapest's biggest shopping centre, for some EUR 400 mln. The owner of the complex is the retail developer Plaza Centers. The deal is believed to be the largest single asset transaction in Hungary to date.
