German fund manager GLL Real Estate Partners has acquired a high-street retail asset at Gran Vía, 48 in Madrid for a yield of around 5%.

German fund manager GLL Real Estate Partners has acquired a high-street retail asset at Gran Vía, 48 in Madrid for a yield of around 5%.

The asset provides 2,500 m2 of retail space and is leased to fashion group C&A.

Financial details were not disclosed.

Agent Aguirre Newman brokered the deal.