Morgan Stanley, Redos Acquire Third Retail Portfolio
A joint venture between funds managed by Morgan Stanley Real Estate Investing and Hamburg-based asset manager and investor Redos Real Estate GmbH has acquired the Tobago portfolio. The seller was EDEKA-owned Marktkauf Group. The portfolio consists of 11 “toom” DIY stores located in western Germany with long-term leases; “toom” is part of the REWE Group.
“The closing of the Tobago portfolio is our third successful transaction in big-box retail in Germany in the last two years. This market segment allows for an attractive yield with an inflation hedge, which is particularly valuable in the current environment,” says Thomas Hartl, head of Germany with Morgan Stanley Real Estate Inve