PATRIZIA has sold a 68-property retail portfolio in Germany to a fund managed by GPEP, a management platform specializing in supermarkets and retail parks across Germany.
The portfolio provides 122,000 square meters (1.3 million square feet) of total rental space in established retail locations, which are anchored by the leading German food retailers such as Edeka, Lidl, Netto, Penny and Rewe.
“As one of the first institutional movers into the food retail sector, we are well placed to capitalize on the growing investor focus on the German market,” said Daniel Herrmann, head of fund management retail at PATRIZIA. “This transaction is our first large-scale disposal in the segment of supermarkets and discounters.”
He added, “PATRIZIA is still an active buyer in the German food retail market. Even with this sale we will have grown our assets under management in the subsector over the last 18 months. We continue to look for future investments, although we d
