Modulus Real Estate divests four German retail parks for €40m
German real estate firm Modulus Real Estate sold its “Vier Gewinnt” (Four Wins) portfolio to Slate Asset Management for roughly €40 mln.
The portfolio consists of four retail parks totalling about 23,000 m2 of rentable space in established FMCG locations in Hemer, Neustadt (Hessen), Heide, and Cuxhaven.
Modulus spent seven years acquiring and renovating the properties, focusing on energy efficiency, including certification according to the DGNB Gold Standard, and securing key German retail tenants like Edeka, Rewe, Aldi, and Netto.
The portfolio, with an average lease term of ten years and a strong focus on grocery-anchored retail, is considered a stable investment.
CBRE brokered the deal, and KFR provided legal counsel to Modulus.
Subscribe now and stay informed
Joining the CRE Media Europe mailing list is quick and simple. Just provide your contact details below to be added to our distribution list and start receiving the latest news, magazines and special updates, all free of charge.
Commercial real estate (CRE) Media Europe is a free to access news and information service providing dependable, independent journalism. Our mission is to provide the pan-European real estate market with the latest trends and data points, and provide key analytical coverage to help you make better decisions in your business.
To discuss advertising and commercial partnership opportunities please contact eddie@cremediaeurope.com