German asset manager M7 Real Estate has completed an “off market” sale of a portfolio of 27 retail properties in Germany to the FIM Unternehmensgruppe for €86.4 million.
The portfolio, a mixture of high quality, food-based tenants, comprises a total rental area of 72,594 square metres.
The assets are 92% let to a range of occupiers including household names such as Lidl, Netto, Edeka, Rewe, Dänisches Bettenlager and Siemes Schuhcenter.
The largest single asset, which is on Hildesheimer Strasse in Hannover, comprises 10,710 sq m of space.
Alyssa Huse, managing director of M7 Real Estate, said: “This sale is in line with our business plan and has delivered attractive returns for our investors.
“Leveraging our asset management expertise, we have improved the performance across the portfolio, attracting a diverse occupancy base to these well located assets and creating an attractive market proposition.”
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