Tristan to buy German assets for €450m
Funds advised by pan‐European real estate investment manager Tristan Capital Partners have agreed to make five investments in Germany that will complete in the first quarter of 2015 for a total in excess of €450 million ($513.99 million).
The transaction includes a neighborhood shopping center in Berlin and a mixed‐use building in the center of Munich.
“Germany’s economic resilience has been a key theme in Europe for Tristan funds as has been the focus on neighborhood shopping centers that have a dominant position in local city catchment areas,” said Ali Otmar, managing director of investments at Tristan Capital, in a statement.
Curzon Capital Partners III, a core-plus fund, has acquired the 407,952-square-foot Neukölln Arcaden shopping center located on the main thoroughfare of the fashionable Berlin district of Neukölln for €65.6 million ($74.9 million) from AXA Immosolutions, a German open‐end