TREI Real Estate, the property arm of German family-owned Tengelmann Group, has hired agent NAI apollo to sell a portfolio of 10 logistics facilities across Germany.
TREI Real Estate, the property arm of German family-owned Tengelmann Group, has hired agent NAI apollo to sell a portfolio of 10 logistics facilities across Germany.
The sale involves over 425,000 m2 of lettable space across the country including the cities of Hamm, Kerpen, Berlin, Bottrop and Tuningen.
The portfolio is believed to be worth around €200 mln.
'The objective is to find a buyer for the entire portfolio by the end of the year,' NAI apollo said in a statement, without giving a guide price for the sale.
TREI Real Estate owns 489 assets in Germany and six other European countries (Poland, Czech Republic, Slovakia, Hungary, Austria and Portugal). The company invests in commercial and residential properties and is a developer of Vendo retail parks in Central and Eastern Europe.