SIGNA Prime Selection AG has acquired a five-property portfolio for €1.5 billion ($1.8 billion) from RFR Holding GmbH.
The transaction is the largest real estate deal in Germany in 2017.
The assets are located in Berlin, Hamburg, Frankfurt and Munich. The properties include the highrise “Upper West” in Berlin, the high street assets “Kaufmannshaus” and “Alsterarkaden” in Hamburg, development “Upper Zeil” in Frankfurt as well as the 50 percent RFR shareholding of the project “Karstadt at Munich Main Train Station.” The other 50 percent of the project is owned by SIGNA Prime.
In summary, this portfolio of high street assets comprises 1.7 million square feet of lettable area, spanning across retail, office, hotel, restaurants and other areas.
Germany had the strongest first half of the year for investment since 2007, with transaction volumes of more than €26.1 billion ($30.4 billion), representing a 41 percent increase on the correspo
