US group Apollo Global Management is said to be the frontrunner in a bid to acquire a portfolio of 17 stores from the ailing department store chain Galeria Karstadt Kaufhof, majority owned by the Austrian group Signa Holding.
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Outperforming UK grocery-focused investment trust, Supermarket Income REIT, has announced a £75 mln (€85 mln) placing as it seeks to close on two additional supermarket properties.
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Hamburg-based retail specialist Redos Group has acquired a portfolio of six retail properties from German grocery group Edeka for €110 mln, including a number of pipeline developments.
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Italian fund and asset management group Prelios has sold its German asset management arm, Prelios Immobilien Management, to London-based Girlan.
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While Covid-19 has forced consumers in southern Europe to shop online, new research from Capital Economics suggests that e-commerce penetration will remain lower in Italy and Spain for structural reasons, keeping prime retail rents in these markets at resilient levels long-term.
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Logistics real estate is likely to continue its positive trajectory thanks to the lockdown-generated e-commerce boom – but also due to failings in supply chains during the crisis, property executives suggest.
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Supermarket Income REIT is launching a £75 mln placing to buy two more supermarkets for £115 mln.
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Generali Real Estate has acquired the Kotva department store in Prague from local firm Pražská Správa Nemovitostí (PSN) through its pan-European Generali Real Estate Asset Repositioning (GREAR) fund.
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Swiss investor Gold Tree Group has completed the acquisition of eight retail parks from the developers Ten Brinke Group and Zehentner & Seidel group for around €70 mln.
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Rocketing visits to UK supermarkets drove an almost £2 bn (€2.3 bn) leap in sales in the four weeks to 21 March, according to market research company Nielsen.
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German lender Aareal Bank has further cut its exposure to Italian non-performing loans (NPL) by selling around €140 mln in loans and advances to investors during the month of July.
