Patrizia Immobilien AG has acquired a large retail trade portfolio located in strong economic areas across Germany from LaSalle Investment Management. According the market information, the buying price was €250m. The assets includes 21 specialist markets, supermarkets and DIY stores belonging to leading chains such as Rewe, Edeka, Kaufland and Bauhaus with a retail leasing area measuring more than 180,000 sqm. Most of the properties are situated in Bavaria, Lower Saxony and Schleswig-Holstein. The average lease length of the newly acquired investments is around seven years. The portfolio is intended for the newly established “Patrizia Handels-Invest Deutschland II.”
