The Tengelmann Group strategically realigned its real estate activities within TREI Real Estate at the outset of the 2012 financial year. The German real estate portfolio with more than 150 properties and leasing volume of more than EUR 50 m was added. TREI Real Estate now manages a total portfolio of more than 500 properties as a strategic business division. In addition to its focus on retail properties, the portfolio will be rounded out with logistics, residential and office properties.
The core business areas of TREI Real Estate include project development for speciality store centres and grocery stores as well as asset management. Real estate activities include six other European countries in addition to Germany. Leasing volumes amount to more than EUR 100 m. More than 80% of leasing volume is generated through non-Group tenants. The tenant portfolio includes important retailers such as Rewe, EDEKA, Spar, Jerónimo Martins or Kaufland.
Urban Plattes, specialist for retail properties, has been responsible for this business segment as TREI Real Estate CEO since May 1, 2012. "We are going to systematically diversify and expand our portfolio. The portfolio's value added is aimed at sustainability," according to Plattes.