Savills Investment Management acquires project development with residential and food retail in Germany

Savills Investment Management has acquired a project development with residential and food retail space near Karlsruhe, Germany, for an open-end special fund. Both sectors are key focuses of Savills IM’s investment strategies due to their resilience and strong fundamentals.

This was an off-market transaction with the Krause group of companies from Bayreuth. The property is part of an inner-city neighborhood development and comprises a total of around 8,000 square meters (86,100 square feet) of rental space. The parties have agreed not to disclose the purchase price. Savills IM was advised on the technical side of the transaction by KVL Solutions, which had also previously accompanied the construction phase.

The brownfield development comprises two buildings, completed earlier this year. The retail space is fully leased to Edeka and Lidl on long-term leases. The upper floors consist of modern flats with fitted kitchens, which were almost fully leased during the projec