A redos Group subsidiary purchased 13 retail properties across Germany from various buyers amounting to roughly €200 million for its real estate fund, Europe Real Estate reported.
The properties, which were acquired by redos institutional GmbH within the past five months, include retail parks, food stores, DIY stores and the Coral portfolio consisting of five Kaufland stores sold by two Blackstone Group LP-managed real estate funds. Aside from the assets held in the Coral portfolio, the other retail properties are located in the German regions of North Rhine-Westphalia, Bavaria, Baden-Württemberg, Schleswig-Holstein, Saxony and Saarland.
According to the publication, the Redos Einzelhandel Deutschland real estate fund was initiated by redos institutional GmbH and capital management services provider Union Investment.
The March 30 report noted that €520 million of the €700 million target volume had already been invested through the fund.