Corestate closes €212m retail club deal

Corestate Capital has closed its High Street VII club deal with an investment volume of €212 million ($242 million).

High Street VII encompasses a portfolio of 24 retail assets with 100,000 square meters (1 million square feet) of total GLA across 17 mid-sized German cities. Anchor tenants include dm, Müller, New Yorker and Rewe.

With the acquisition of a property in the pedestrian zone of Cloppenburg in northern Germany as the final transaction for High Street VII, Corestate has fully placed the equity raised for the investment program for the seventh time. The investment program focuses on retail assets in prominent locations of German mid-sized cities.

The successor program High Street VIII was launched in April 2018 and is already invested in assets in Rostock and Sindelfingen. The target investment volume will be €250 million ($285 million). Overall, retail assets with a value of more than €2 billion ($2.3 billion) have been placed in the “High Str