Tristan Fund acquires 93,280 m² portfolio of German properties for €117.5 mln (DE)

A fund advised by Tristan Capital Partners has acquired a 14-property portfolio located in Berlin from funds managed by Germany’s DG ANLAGE Gesellschaft mbH for €117.5 mln.
Ali Otmar, Managing Director at Tristan Capital, said: “This transaction demonstrates our continued appetite for investing in Germany, where Tristan-advised funds have made over 30 purchases to date worth a total of more than €2 bln. The German market enjoys strong fundamentals and we anticipate that this portfolio with its focus on the larger German cities of Berlin, Frankfurt and Leipzig will deliver attractive returns for our investors through reducing vacancy and harvesting underrent in larger properties located in key cities.”
The portfolio acquired by EPISO 3 from three funds managed by DG ANLAGE Gesellschaft mbH comprises 93,280 m² of lettable space, more than three quarters of which is in Berlin, Leipzig or Frankfurt, markets that offer substantial investor liquidity for stabilized properties. Offices make up 60% of the 14 assets, with 17% of space occupied by retailers ALDI, REWE and local branches of Targobank and Deutsche Bank. The rest of the portfolio comprises residential assets and other uses with a total vacancy of 13%.
Source: Tristan Capital Partners