MPGA acquires portfolio of 140 properties from German retail giant ALDI (DE)

MGPA, the private equity real estate investment advisory company is pleased to announce that it has exchanged contracts for the acquisition of a real estate portfolio from Germany's leading discount retail company ALDI SUED.

The 140 properties will be managed by MGPA Europe Fund III. The properties, mainly located in the southern and western parts of Germany, are stores which will partially be leased back by ALDI SUD, as well as currently unused land and a logistics center. The parties agreed that the purchase price is to remain undisclose

Marius Schöner, MGPA's Managing Director for Germany, says: "This is the first transaction in Germany involving MGPA Europe Fund III, which only began investing last year. We have sufficient capital to make further interesting investments. During the next six months, our focus lies on retail properties and also specialist outlet stores as well."

MGPA plans to further raise its investment volume in Germany with plans to invest up to €200 mln. by the end of 2010. The strategy is to build portfolios that combine properties on long term leasing contracts with property or real estate that have upside potential. Furthermore MGPA is actively driving its business opportunities with institutional investors in Germany.

MGPA has been supported in the transaction by GIG Grundbesitz GmbH, legal advice was provided by law firm CMS Hasche Sigle; ALDI SUED has been advised by JenAcon GmbH and law firm Schmidt, von der Osten & Huber.

Source: Citigate Dewe Rogerson

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