Funds advised by Bruton Capital, the German real estate investment and asset management firm, have acquired a portfolio of four retail assets in the states of Baden-Württemberg, Berlin and Thuringia.
The portfolio comprises c.6,500 sqm of principally retail space, anchored with leases to Penny, Edeka and Netto with a WAULT of 4 years, offering asset management opportunities.
The portfolio additionally offers potential for residential development in the greater Berlin area.
The acquisition price has not been disclosed and the properties were acquired ungeared from the purchasers’ own funds.
Colliers acted for the vendor.
Jairaj Amin, a partner at Bruton Capital, said: “The acquisition of this fachmarktzentrum portfolio from a distressed bank seller required patience and careful negotiation. We are pleased to have ultimately been the successful bidder on the transaction and believe that our strong asset management team will be able to secure maximum value from the acquisition.”
NOTES FOR EDITORS:
Bruton Capital is a partnership based in Frankfurt and London providing the full spectrum of real estate investment and asset management capabilities to investors in Germany. Bruton Capital advises a number of private investment vehicles across different strategies with a principal focus on retail investment.