AGIV eyes KarstadtQuelle real estate assets (DE)

AGIV Real Estate AG is interested in acquiring some of KarstadtQuelle AG´s real estate assets and is keen to make a bid together with US private equity group Blackstone, an AGIV source said.

'We are interested in it. We have made a bid for the Metro (real estate) assets before together with Blackstone. I can imagine us doing the same for Karstadt´s properties,' the source said.

The source said apart from Blackstone, other US private equity group are interested in the KarstadtQuelle assets.

'Many are interested now because they know that Karstadt is forced to sell them,' the source said.

He said even before KarstadtQuelle announced late last month a restructuring plan that includes the sale of its real estate assets, the property market had known for some time that they would be up for sale.

'We have already seen some of the property but we have to wait for KarstadtQuelle to make its move,' the source said.
Source: Freeman

Related News