Gold Tree Group has bought eight German retail parks from Montano Asset Management. It’s the first of 18 that Montano acquired from the developers Ten Brinke Group and Zehentner & Seidel group. There are further acquisitions with these developer planned for later in 2020. The volume of the deal is currently stands at €70m but is expected to grow to approximately €200m. The eight parks included in this initial transaction total roughly 30,000 sqm and are rented to established food retailers on a long-term basis. Montano Asset Management will continue to manage the properties after their sale. The law firm Noerr LLP and the consulting firm Fair Audit advised the purchaser on the transaction.
