Deutsche Land has bought a portfolio of 16 shop properties in Germany for €69 million (£50.1 million) on a net initial yield of 6.4%, as part of its strategy of buying established food-led retail centres. The portfolio was acquired with financing in place, giving an 8.4 % return on equity. However, with the refinancing that is expected in early 2008 it will give a return on equity in excess of 10%. The Times