Paris-based AEW Europe has acquired 13 office and retail assets in Paris and eight retail assets in Germany in recent days.
Paris-based AEW Europe has acquired 13 office and retail assets in Paris and eight retail assets in Germany in recent days.
Acting on behalf of a French institutional investor, AEW Europe announced the acquisition of the 13-asset Paris portfolio from Groupe Pierre & Entreprise on 9 October. The investment volume was not disclosed.
The 12,600 m2 portfolio consists of eight office assets located in the French capital's central business district and five retail assets in high-street locations. The assets are leased to around 30 tenants.
AEW Europe was advised by Cheuvreux, Depardieu Brocas Maffei, Fidal and PwC, while Groupe Pierre & Entreprise was advised by Attal, Linklaters, A2CS, CMS Bureau Francis Lefebvre, JLL and BNP Paribas.
On 6 October, AEW Europe completed the acquisition of an eight-asset German retail portfolio. This was part of a series of investments totalling €56.3 mln which AEW Europe has undertaken this year for a €150 mln opportunistic investment programme on behalf of a US institutional investor. AEW Europe is working with its local partner, Kintyre, to source and structure investments in Germany and both parties have co-invested in this transaction.
The portfolio primarily comprises six multi-let retail parks, located at Magdeburg in Saxony Anhalt, Bad Staffeistein and Muhldorf Am Inn in Bavaria as well as Schwalmstadt Treysa and Herborn in Hesse. The 55,000 m2 portfolio also includes a standalone retail unit at Bischoffen in Hesse, a DIY store in Herten and a community shopping centre in Schwelm, both in North Rhine Westphalia.
The portfolio produces an annual rental income of €5.1 mln and is anchored by retail tenants such as Edeka, Rewe, DM, C&A, Lidl and Aldi.
