German asset manager KGAL has bought a 33,000 m2 retail park from Hahn Group on behalf of an unnamed institutional fund.
German asset manager KGAL has bought a 33,000 m2 retail park from Hahn Group on behalf of an unnamed institutional fund.
The Erding retail park, just outside Munich and near the city's airport, has been owned by Hahn since 2008.
Key tenants include Media Markt, and the site is 99% let.
'Erding ranks among the most attractive and successful regions in Germany, with a growth in its population forecast, an extremely low unemployment rate of 2.1% and a very high level of purchasing power,' said André Zücker, head of real estate at KGAL.
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