Private real estate investment company Edinburgh House Estates has increased the total value of its holdings in Germany to EUR 1 bn following the recent acquisition of a EUR 30 mln retail property portfolio.
Private real estate investment company Edinburgh House Estates has increased the total value of its holdings in Germany to EUR 1 bn following the recent acquisition of a EUR 30 mln retail property portfolio.
The company announced on Thursday evening that it had acquired 14 high street retail properties in Mecklenburg-Vorpommern, Northern Germany from private German investors. The tenants include Edeka, Kloppenburg, Reno, Vodafone and New Yorker. Tony Quayle of Edinburgh House, commented: 'The scale of our portfolio and acquisitions in the region outlines our confidence in the long-term prospects of the German market. With a further EUR 200 mln of assets currently in solicitors’ hands, the company is continuing its expansion into Germany.'
Edinburgh House has built up a its 620,000 m2 portfolio from a standing start in just under two years. The diverse portfolio includes a mix of retail, logistics, offices and residential across in Berlin, Düsseldorf, Wuppertal, Frankfurt and Leipzig. The new properties will be asset managed by Berlin based consultant Estama Real Estate Management.
