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Peakside Capital Advisors AG ("Peakside") has acquired a portfolio of eight food-anchored retail properties with a total lettable area of around 39,000 m² from Deutsche Konsum Real Estate AG for the PREF IV fund. The properties are located throughout Germany with a focus on Saxony, Lower Saxony and Bavaria.
The portfolio is almost fully let. The food retailer EDEKA is an anchor tenant in six properties, as well as Kaufland and Netto.
With this transaction, Peakside increases the number of its food retail properties to a total of 35 assets and further expands its activities as part of its food retail strategy. The asset management of the properties will be handled by Food Anchor Management GmbH (FAM) – a joint venture between Peakside and Stoke Park Capital founded in March of this year.
Boris Schran, Managing Partner of Peakside, says: "With the acquisition of the portfolio, we are consistently pursuing our strategy in the food retail sector. We continue to see attractive investment opportunities in this market environment and will continue to expand our activities accordingly."
Simon Lutz, Partner at Peakside, adds: "The food-anchored retail real estate segment offers attractive opportunities with a convincing risk-return profile. Thanks to our local market knowledge and our active asset management approach, we are able to identify and realise value creation potential in a targeted manner. At the same time, we benefit from stable cash flows and long-term leases with anchor tenants with strong credit ratings."
