Cologne-based Corpus Sireo Real Estate, part of Swiss Life Asset Managers, has sold 79 properties across Germany on behalf of Aberdeen Asset Management.
The commercial assets, all in German B and C cities, cover more than 85,000 m2. The transaction volume was not disclosed.
'The nationwide sale of the properties was challenging because the assets were mostly part ownership or building lease was agreed. We are all the more pleased that we have been able to carry out the sales with Martin Wanick, the responsible fund manager at Aberdeen Asset Management, quickly and purposefully,' commented Benjamin Schreiber, account manager at Corpus Sireo Real Estate.
The assets, which were all part of the so-called Drive portfolio (ECT GPROP 1 Fonds) are mostly small commercial premises rented to Commerzbank. The transactions date back to 2015, the start of the mandate.
