GE Real Estate has purchased a portfolio of properties in Germany for €205m (£147m).
The portfolio, bought from a consortium, comprises 31 properties totalling 1.83m sq ft. They are located primarily in eastern Germany, including Berlin and the states of Saxony and Thuringen, but also includes properties in Hamburg, Dusseldorf and Munich.
It is split 70% office property, 20% retail and 10% residential.
Rainer Thaler, managing director of GE Real Estate in Germany, said: ‘We invest specifically in selected locations in east Germany that we feel will develop better than the nation as a whole. The cities of Leipzig, Halle, Dresden, Jena and Erfurt are currently enjoying a continuous upswing, and the forecast for these cities points to above-average economic growth.’
GE Real Estate was advised by Colliers and Atisreal. The sellers were advised by Jones Lang LaSalle.