Investors Target German Retail Portfolios
The retail sector in Germany has recently attracted interest from investment managers such as Corestate Group and MGPA, and Savills suggests that the sector has investment potential due to its low shopping centre density compared with similar markets.
Corestate acquired a portfolio of 20 High Street assets in Germany with a market value of €53 million. The properties are located in cities throughout Germany, including Aachen, Duisburg, Hamburg and Potsdam.
“The key to unlocking the transaction on this occasion was negotiating a major write-off to the subordinate credit financing. The current market is providing Corestate with a number of opportunities that benefit from our skill set, but we believe that this is just the beginning and that we will see an even greater flow of att