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.
The deal is part of a larger transaction encompassing a total of 18 retail parks to be taken over in a forward deal worth some €200 mln.
The portfolio comprises eight retail parks across Germany with a total size of 30,000 m2 which are all rented to well-known food retailers on a long-term basis.
Montano Asset Management was responsible for transaction management and will continue to look after the properties in the future.
Law firm Noerr and consulting firm Fair Audit advised the purchaser on the transaction. Ten Brinke Group was advised in-house.