Transactions - MARCH 17, 2015

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AEW Europe venture to invest €300m in German retail

by Andrea Waitrovich

AEW Europe, on behalf of a U.S.-based investor, has formed an opportunistic platform and investment program targeting German retail properties with Kyntyre, which will source and structure the investment program.

The joint venture will initially look to build a €150 million ($159.09 million) portfolio of assets in lot sizes of €5 million to €15 million ($5.3 million to $15.91 million).

Kyntyre will take primary responsibility for developing the pipeline of potential investments and, depending on the availability of suitable investment opportunities, the investment capacity of the partnership is expected to be in the region of €300 million ($318.18 million).

A purchase contract for a first asset has been signed already, and eight other potential acquisitions are being reviewed.


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