Fairvesta Group, which recently acquired 21 food store properties in Germany from AXA Real Estate, said it is planning more retail purchases this year.
Fairvesta Group, which recently acquired 21 food store properties in Germany from AXA Real Estate, said it is planning more retail purchases this year.
The Tübingen-based property investment firm, which currently holds a total of 106 retail properties with a market value of about €300 mln, said in a statement it would carry out around 50 further acquisitions by the end of the year.
The announcement comes less than a week after Fairvesta acquired a 21-strong food store portfolio from AXA Real Estate. The package comprises around 40,000 m2 of space and the assets are located mainly in Northern Germany, Saxony, Bavaria and Rhineland Palatinate.
The focus for further acquisitions will be on individual properties as well as portfolios. The company said it will seek to benefit from the current trend among investors towards shorter holding periods for assets.
Fairvesta is a leading German asset manager and provider of closed-end funds with real estate assets under management of over €800 mln. The company’s portfolio comprises retail, office and residential properties located across major German cities.
