PATRIZIA sells 68-asset German retail portfolio
Transaction demonstrates growing institutional investment demand in the German food retail sector
- Food anchored retail assets across Germany with approximately 122,000 sqm total rental space
- PATRIZIA maintains a retail portfolio of more than EUR 7 billion AUM
Augsburg, 20 January 2020. PATRIZIA AG, the global partner for pan-European real estate investment, announces the sale of a retail portfolio totalling 68 properties in Germany to a fund managed by GPEP, a management platform specialised in supermarkets and retail parks across Germany.
The portfolio provides approximately 122,000 sqm of total rental space in established retail locations, which are anchored by the leading German food retailers such as Edeka, Lidl, Netto, Penny and Rewe.
PATRIZIA has increased the portfolio’s WALT significantly through a programme of active management, optimising value on behalf of its investors.
Daniel Herrmann, Head of Fund Management Retail at PATRIZIA, commented: “As one of the first institutional movers into the food retail sector, we are well placed to capitalise on the growing investor focus on the German market. This transaction is our first large scale disposal in the segment of supermarkets and discounters. We are pleased that growing numbers of German and international institutions see grocery assets as a key element in their investment strategy.”
“PATRIZIA is still an active buyer in the German food retail market. Even with this sale we will have grown our AUM in the sub-sector over the last 18 months. We continue to look for future investments, although we do so selectively and only where we see the opportunity to deliver strong returns.”
PATRIZIA manages more than EUR 7 billion in the retail sector throughout Europe with the majority invested in the German food retail sector.
PATRIZIA was advised by Colliers International and K+L Gates Berlin.
PATRIZIA AG has been active as an investment manager in the real estate market across Europe for more than 35 years. PATRIZIA’s activities include the acquisition, management, repositioning and sale of residential and commercial real estate through its own licensed investment platforms. As a global partner for pan-European real estate investment, PATRIZIA operates as a respected business partner of large institutional investors and retail investors in all major European countries. PATRIZIA manages more than EUR 42 billion of real estate assets, primarily as an investment manager for insurance companies, pension fund institutions, sovereign funds, savings and cooperative banks and as co-investor. For further information, please visit: www.patrizia.ag.
Head of Corporate Communications
Phone: +49 (0) 821 5 09 10-6 55