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Patrizia sells German retail portfolio

German real estate investment manager Patrizia AG sold a 68-property retail portfolio in Germany to a fund managed by GPEP.

The portfolio has a total rental space of roughly 122,000 square meters and is anchored by German food retailers such as Edeka, Lidl, Netto, Penny and Rewe.

Colliers International and K+L Gates Berlin advised Patrizia on the transaction.

The buyer is a management platform focused on supermarkets and retail parks across Germany.