MGPA Buys German Retail Assets
MGPA, on behalf of MGPA Europe Fund III, has acquired a 26-property portfolio of retail assets located in Germany, concentrated in Hesse, Baden-Württemberg and Bavaria. Develica Deutschland Ltd is the seller. The 41,200-square-metre portfolio includes 21 food retail properties, including 11 supermarkets.
“This is our second retail transaction in Germany involving MGPA Europe Fund III and emphasises the investment opportunity we see in Germany for good quality, well tenanted retail portfolios,” says Laurent Luccioni, CEO for Europe at MGPA.
In other news, MGPA has formed a joint venture with CarVal Investors for the acquisition of the Upsilon building on 10 rue Raymond David in Malakoff, France. The joint venture partners have also signed a construction agreement with