Retail Properties Investment Trust (RPIT), a Marcol Group company, has sold Project Gravity, comprising of 68 grocery-anchored retail properties in Germany. The buyer is a venture lead by Castlelake.
RPIT is a venture between London’s Marcol and New York based investment manager Marathon Asset Management, L.P. (Marathon). This transaction forms part of a larger €300m disposal of Marcol’s remaining German retail holdings.
RPIT was assisted in the sales process by Cushman & Wakefield and Colliers International. Legal advice was provided by Hogan Lovells (Germany) and Arendt (Luxembourg).
The buyer was advised by Goodwin Procter (Germany) and Ashurst (Luxembourg) and acquisition financing was provided by Credit Suisse AG, London Branch.
