- Almost €520 million already invested through institutional real estate fund “Redos Einzelhandel Deutschland” – target volume of €700 million
- Acquisition pipeline with a volume of €50 million – further acquisitions close to conclusion despite competitive market environment
30 March 2017 – redos institutional GmbH, a subsidiary of the redos Group, has acquired a total of 13 retail properties from different vendors in the past five months. The total purchase price adds up to around €200 million. The properties were purchased for the institutional real estate fund “Redos Einzelhandel Deutschland”. The fund was initiated by redos institutional GmbH and Union Investment, which provides capital management services. Among the properties acquired are retail parks, food stores and DIY stores. They also include the “Coral” portfolio, which consists of five Kaufland stores in Saarland, Rhineland-Palatinate and Saxony-Anhalt with a total rental space of around 66,000 m². The vendors of the “Coral” portfolio are two real estate funds managed by Blackstone.
The other retail properties are located in North Rhine-Westphalia, Bavaria, Baden-Württemberg, Schleswig-Holstein, Saxony and Saarland. In addition to Kaufland, the tenants include Rewe, Edeka, Aldi, Obi and Hornbach. All of the portfolio properties are located in established locations with positive demographic development and a high degree of centrality and purchasing power.
“Redos Einzelhandel Deutschland” has a target volume of around €700 million with an aimed debt ratio of 50 percent. Designed for institutional investors, the fund invests in large-scale retail properties throughout Germany. The current investment volume amounts around €520 million. “With our dynamic acquisitions in this highly competitive market environment we are among the leading investors in this asset class and have continued to successfully expand the fund for our clients”, comments Torsten C. Wesch, Managing Director of redos institutional GmbH. “The 13 properties ideally complement the ‘Redos Einzelhandel Deutschland’ portfolio. We are currently negotiating purchase agreements for additional properties with a total volume of about €50 million”, Wesch adds. “We continue to acquire individual properties or portfolios with a volume between €5 million and €25 million in the Core and Core Plus segment.”