BMO Real Estate Partners (BMO REP) has acquired a high street retail asset in a prime location in the city center of Cologne, Germany. The transaction marks a maiden investment in Germany for BMO REP’s Best Value Europe II Fund (BVE II), which focuses on selective, high-quality, prime high street retail properties within top-tier or dominant European cities.
The property comprises a 1,500-square-meter (16,000-square-foot) modern flagship store located at Hohe Strasse 84–86. Completed in 2017, it is long-term leased to international lingerie and swimwear brand, Hunkemöller.
It is the 14th acquisition undertaken on behalf of BVE II, which is invested in seven countries in continental Europe with a current gross asset value of more than €420 million ($507 million). The target investment volume for the fund is approximately €1 billion ($1.2 billion).
Assia Amore, European fund manager at BMO Real Estate Partners, said, “This first acquisition in Germany
