F&C REIT Asset Management has acquired three mixed-use properties in Germany for a combined investment volume of around €26 mln.

F&C REIT Asset Management has acquired three mixed-use properties in Germany for a combined investment volume of around €26 mln.

The office and retail properties are located in the centre of Recklinghausen and Solingen as well as an unnamed mid-sized city in northern Germany. They were acquired for F&C REIT’s Best Value Germany II fund which is targeting a volume of around €500 mln including debt.

The retail space in the Solingen property is fully let to fashion retailer C&A. The retail premises in the Recklinghausen property are occupied by H&M until 2015. No details were provided on the third transaction.

Best Value Germany II invests in prime properties in secondary and large German cities, with a focus on high-street retail properties. It aims to generate an annual yield of 5% over a 10-year maturity.