German investor GRR has announced the sale of a portfolio of 21 retail properties to a group of international investors for 鈧�55 mln.
German investor GRR has announced the sale of a portfolio of 21 retail properties to a group of international investors for 鈧�55 mln.
The assets, offering a total of 40,600 m2, are located throughout Germany and have a weighted average lease term of seven years. The buyers were not identified by name.
'Demand for retail properties in good conditions is strong, which is why we have decided for a sale in the current market phase,' commented Nicole Unterbusch, director of transaction at GRR.
GRR will use the proceeds to finance new acquisitions with a value-add investment profile.
Colliers, CMS Hasche Sigle and Freshfields Bruckhaus Deringer advised the vendor on the deal.
