Trei Real Estate sells retail property portfolio to Deutsche Konsum REIT-AG
Another step towards portfolio repositioning
Trei Real Estate GmbH has sold a retail property portfolio consisting of six properties to Deutsche Konsum REIT-AG. The properties form part of a diversified retail portfolio and are located throughout the country in Berlin, Baden-Württemberg, Bavaria, North Rhine-Westphalia and Rhineland-Palatinate, comprising around 8000 m² of rental space. The tenants include Fressnapf, KiK, Netto, Penny, Rossmann as well as TEDi.
By making this transaction Trei has successfully separated itself from locations in Germany which do not form part of its target portfolio, thus furthering the optimisation of its portfolio. "We are pleased that this complex transaction has closed quickly. The property sale is in line with the strategic re-alignment of Trei and brings us closer to our target portfolio allocation. In future we see a balanced ratio of individual retail and residential properties in select regions of Germany," says René Westerheider, Head of Transactions of Trei Real Estate.
As advising partners to Trei and overseeing the transaction were the international property consultancy Avison Young and the law firm Arnecke Sibeth. Stephan Heinen, Principal and Managing Director of Avison Young in Germany, says: "For this transaction, there were only eight weeks between the initial registration of interest from the buyer and the signing of the contract. This is a clear indication of current demand for individual retail portfolios. The asset class continues to offer very attractive investment opportunities."