REDEVCO Germany is rolling out an expansion strategy that aims to restructure and substantially grow its portfolio. The main thrust of the strategy is to acquire or develop city center retail buildings in prime locations in medium-size and major cities. REDEVCO also invests on a smaller scale in dominant shopping centers. The company will sell its office and logistics portfolios over the next five to 10 years.
REDEVCO successfully launched this strategy in 2010. In the course of the year it disposed of four logistics and industrial properties, as well as the Solitaire office building in the Kennedydamm area of Düsseldorf.
Recently, REDEVCO announced that it had acquired three new retail buildings in A1 locations in Bielefeld, Kassel and Hanover under lease to SinnLeffers, Müller chemists and Karstadt Sport. The real estate investor also purchased two Karstadt department stores in the Olympia shopping center in Munich and the Rhein-Neckar center in Viernheim, in total more than 70,000 m² of lettable space.