AXA Real Estate announces it has completed, on behalf of clients, the sale of a portfolio of 21 food retail assets located across Germany to Fairvesta Real Estate Fund, an international real estate and investment company based in Tübingen.
The portfolio comprises approximately 40,000 m² of primarily food retail space and its 21 units range in size from 1,200 m² to 2,600 m². These assets are located across Germany but predominantly in Northern Germany, Saxony, Bavaria and Rhineland Palatinate, which provides the acquirer with strong levels of diversification in one of Europe’s strongest economies. The portfolio is currently 98% let to major European and national food retailers. The portfolio currently has a weighted average unexpired lease term of six years.
DTZ acted as agent on behalf of AXA Real Estate.
Source: AXA Real Estate