Garigal Retail Immobilien, the Frankfurt based investor, developer and operator of German retail property has partnered with Capital & Regional PLC and Area Property Partners to manage their German retail portfolio. This will bring Garigal's combined assets under management to over 100 retail properties that have over 8,000,000 ft² (approx. 743,000 m²) of net lettable area.
Garigal's investment philosophy of ensuring capital preservation and steadily increasing income returns for its investors, is achieved by selecting a mix of retail properties that combines long term contractual rental income, asset management opportunities, and some pure development. Its specialist retail team then works to enhance the value of these properties through delivery of structured asset management plans. In the last year Garigal has negotiated over 5 million in leases, gained planning permission for over 200,000 ft² of new retail lettable area and constructed 50,000 ft² of new retail space.
The Garigal team encompasses experts in all key areas of retail property investment and management who have not only the experience but also the passion to optimize the value of the assets. "The Capital & Regional Area portfolio is a good fit to our existing portfolio, comprised of similarly sized assets, in strong and complementary locations, let to good quality tenants," states Garigal CEO Miles Stephenson.
Wilhelm zu Wied who will join Garigal from Capital & Regional said the following "Capital & Regional Plc has a long history of allocating institutional capital into retail real estate; and in partnering with Garigal in Germany with its similar values and culture we can benefit from its institutional quality management team".
Source: Garigal
