GE Real Estate Germany has announced it has strengthened its retail position in Germany with the acquisition of a portfolio of outlets from a private individual for EUR 30 mln. The portfolio comprises 15 furniture stores, totalling 34,000 m2, located mainly in western Germany in the periphery of its major cities, including Hamburg, Stuttgart and Cologne. The stores are let to Domicil Mobel, a subsidiary of HTL International, a Singapore based producer of high quality furniture. HTL is eager to expand its operations both in Germany and worldwide through its recently acquired Domicil brand. GE Real Estate said it now owns all of the outlets operated by HTL under the Domicil name.
Premium subscriber content – please log in to read more or take a free trial.
