Dawnay Day Treveria, a UK investor in German retail property, has said it sees opportunities for further 'selective acquisitions' given the current market environment and robust fundamentals of the Germany economy. Between 1 July and end-December last year, DDT acquired 63 German properties. with a net initial yield of 6.5%, which will rise to 6.6% when fully let. The properties were acquired for an investment of EUR 271 mln in 15 separate transactions and comprise a mixture of high-street shops, department stores, shopping centres and retail warehouses located throughout Germany.
Dawnay Day Treveria, a UK investor in German retail property, has said it sees opportunities for further 'selective acquisitions' given the current market environment and robust fundamentals of the Germany economy. Between 1 July and end-December last year, DDT acquired 63 German properties. with a net initial yield of 6.5%, which will rise to 6.6% when fully let. The properties were acquired for an investment of EUR 271 mln in 15 separate transactions and comprise a mixture of high-street shops, department stores, shopping centres and retail warehouses located throughout Germany.
In a pre-close portfolio update, DDTsaid that a further 15 properties acquired for about EUR 133 mln since then had been notarised. In total, the value of all properties completed or notarised as of 8 February amounted to EUR 2.5 bn.
Meanwhile, Dawnay Day has appointed Damian Wisniewski chief operating officer/chief financial officer of the asset manager's operations, effective 3 March. He comes to the group from the Wood Wharf Limited Partnership, where he was chief operating officer. Ellen Lackner will also be joining the company on February 18 in the Dusseldorf office, where she will serve as chief operating officer of the German operations. She was previously head of Asset Management at Metro Group Asset Management.
