German investor Allianz Real Estate announced the acquisition on Friday of around 80 retail assets branded Aldi Süd from the discount retail chain Aldi Grundstücksgesellschaft. The companies agreed not to disclose the purchase price.

German investor Allianz Real Estate announced the acquisition on Friday of around 80 retail assets branded Aldi Süd from the discount retail chain Aldi Grundstücksgesellschaft. The companies agreed not to disclose the purchase price.

The properties are located in the southern German regions of Bavaria, Hesse, Baden-Württemberg and Rhineland-Palatinate. They have an average sales area of 900 m2 and are leased with a long-term contract to Aldi Süd.

'The intention of Allianz is to increase its total volume of real estate investments by investing in profitable assets,' said Stefan Brendgen, CEO of Allianz Real Estate Germany. 'This transaction is a further milestone in this direction which we will continue to follow consequently.'

Allianz RE was advised by CB Richard Ellis.

Based in Mülheim an der Ruhr, retail chain Aldi Süd currently operates a total of 1,780 branches in Southern and southwestern Germany.

Allianz's purchase comes shortly after the acquisition last month of the Spherion office building in Dusseldorf from Signa Property Funds for around EUR 100 mln. Spherion is a certified green building with a total lettable area of about 28,000 m2 and is fully let to accountancy firm Deloitte & Touche.