has invested 鈧�125m ($134m) in Germany鈥檚 retail property sector.
The Switzerland-based investment manager bought a portfolio of regional assets in the country鈥檚 mid-sized cities.
The portfolio of 20 single assets is in prime locations in pedestrian zones of Bremen, Du虉ren and Flensburg.
Tenants of the 56,000sqm portfolio include C&A, H&M, REWE and Saturn.
Sascha Wilhelm, chief executive at , said the portfolio was a stable investment opportunity for the company鈥檚 investors, who expect a regular, distributable cash-flow.
鈥淲e are able to achieve attractive risk-adjusted returns, especially in comparison to similar investments within Germany鈥檚 鈥楤ig Seven鈥� cities,鈥� Wilhelm said.
鈥淲e see high potential in this market and will continue to pursue this strategy.鈥�
Corestate dropped its plans to list in Germany.
The company cancelled its initial public offering due to a difficult environment for IPOs in the country鈥檚 stock market.
At present, its two largest shareholders are co-founder Ralph Winter, with 64.2%, and Swiss company Intershop, with 28.1%.
Wilhelm said the market environment for small and mid-cap IPOs had 鈥渄eteriorated considerably鈥�.
