Redos Group has acquired a portfolio consisting of six retail properties from EDEKA Handelsgesellschaft Rhein-Ruhr mbH, which is part of EDEKA Group, one of Europe’s largest food retailers. All of the properties are located in the northwest German state of North Rhine-Westphalia and are earmarked for the Redos Einzelhandel Deutschland II institutional fund, managed in partnership with Union Investment. The developer of the individual properties, with a combined rental space of 37,500 square meters (404,000 square feet), is EDEKA Rhein-Ruhr. The portfolio has been acquired at a total price of €110 million ($119 million).
The acquired properties include locations used solely by supermarket giant EDEKA as well as multitenant retail parks with EDEKA as the largest tenant. The last of the three properties currently under construction is expected to be completed by the end of 2021. All six of the properties are already fully leased.
“With this acquisition transaction,
