Private property investment company Edinburgh House Estates has acquired a portfolio of 29 supermarket and other retail assets in Germany for EUR 100 mln. The vendor is a private German investor. The properties are located in cities such as Fulda, Hildesheim and Zwickau and are leased to avariety of retailers including Edeka, Netto, KiK and Reno. Edinburgh House was represented in the deal by Arina Consulting.
Private property investment company Edinburgh House Estates has acquired a portfolio of 29 supermarket and other retail assets in Germany for EUR 100 mln. The vendor is a private German investor. The properties are located in cities such as Fulda, Hildesheim and Zwickau and are leased to avariety of retailers including Edeka, Netto, KiK and Reno. Edinburgh House was represented in the deal by Arina Consulting.
The assets will be managed by Edinburgh's wholly-owned, Berlin-based subsidiary Estama. Edinburgh House Estates, which is owned by private investors David Roberts and Tony Quayle, has acquired more than EUR 900 mln worth of retail and logistics assets in Germany to date. The properties comprise a total lettable space of 500,000 m2.
Commenting on the transaction, Quayle said: 'This deal represents a significant strategic acquisition for Edinburgh House and has further diversified our portfolio in Germany. Furthermore it demonstrates our continuing commitment to the German market. We remain hungry for further opportunities, both in Germany and throughout Western Europe.'
