The assets, known collectively as the Sidewalk portfolio, are to be held by a Spezialfonds and are located in prime retail locations of large and medium-sized cities as well as select retail parks across Germany, particularly concentrated in the states of Bavaria and Baden-Wurttemberg. The portfolio has a total lettable area of approx. 60,000 m².
Isabelle Rossignol, Head of the Retail Division at AEW Europe, commented: “The acquisition of this high profile retail portfolio demonstrates our ability to successfully identify and execute significant cross-border retail transactions, leveraging our expertise in this sector following the merger between CILOGER and AEW last year. We will continue to focus on growing our existing retail portfolio - €9bn including institutional and private clients across Europe - maximizing the value of assets for the benefit of our institutional and private investors, while looking to further strengthen our position in the German market where we have an exciting pipeline of opportunities.”