GE Real Estate has bought a E205m(£146m) portfolio of 31 properties in Germany.
The mainly eastern German based properties total 1.8m sq ft in cities such as Berlin and are made up of 70% offices, 20% retail and 10% residential.
GE has bought the portfolio from a number of institutional investors.
Rainer Thaler, managing director of GE Real Estate in Germany, said: ‘We invest specifically in selected locations in East Germany that we feel develop better than the nation as a whole./ The cities of Leipzig, Halle, Dresden, Jena and Erfurt are enjoying a continuous upswing and the forecast for these cities points to above-average economic growth.’
GE Real Estate was advised by P&P Pollath and Colliers CRE and AtisReal. Jones Lang LaSallle advised the sellers.