Deka Immobilien investing €700 mln in German retail portfolio (DE)

Deka Immobilien GmbH has secured a diversified retail portfolio in Germany for approx. €700 mln. The 51 retail properties are spread over 37 A- and B-cities and are almost fully leased. All of the buildings are located in the pedestrian areas of cities such as Cologne, Hannover, Regensburg, Kiel, or Lüneburg. The total lettable area of the assets comprises approx. 137,000 m², with the majority of tenants being well-known fashion retailers.
Up until recently, the portfolio was managed by D&R Investments, a Dutch company spezializing in A-1 retail real estate investments in Germany and leisure real estate investments in the Netherlands. The assets are to be integrated into various specialized funds intended for institutional investors, and 44 objects with a value of approx. €480 mln are to form the seed portfolio for the new German retail vehicle ‘Domus-Einzelhandel-Deutschland’ (Domus Retail Germany). The vehicle will use the retail assets as a starting point to focus on German retail real estate investments.
Source: Deka Immobilien GmbH