Germany’s Hahn Group has confirmed that it has reached an agreement to sell 13 retail parks part of the so-called Oceans portfolio to Edeka companies for an undisclosed amount.
The assets are understood to represent the bulk of the Oceans portfolio which was put on the market last year for a price said to be around €600 mln. The package was divided in sub-portfolios shortly thereafter.
The buyer companies are CEV Handelsimmobilien and the Edeka regional companies Rhine-Ruhr, Southwest, Northern Bavaria-Saxony-Thuringia and North. The transaction is subject to the necessary antitrust approval.
JLL, the advisor on the sale, is believed to be continuing to market the remaining seven assets in the portfolio, mainly DIY stores.
The assets are spread over Germany and originate from Hahn's German Retail Fund, the first special fund of the Hahn Group, launched in 2008.
