Luxembourg-based Corestate Capital has purchased a portfolio of 18 retail properties in German mid-sized cities for €125 mln.
Comprising more than 7,000 m2, the assets are all located in in pedestrian zones, according to Corestate, in cities including Göttingen, Kaiserslautern, Lörrach and Lüneburg.
'We have now closed six portfolios in our High Street retail strategy, bringing the overall investment volume to over €1 bn,' commented Thomas Landschreiber (pictured), chief investment officer of Corestate. 'The portfolio represents around 110 acquired properties with strong rental covenants. We see high potential in this market and will continue to pursue this strategy.'
Major tenants in the acquired portfolio include C&A, depot, dm, H&M and s.Oliver.
