Frankfurt, 11 April 2016 − MAS Real Estate (MAS) has instructed Kintyre, an asset manager and real estate investor with offices in Frankfurt and Berlin, to undertake the asset and property management of two German retail portfolios.
One of them, a portfolio of around 20 supermarkets in northern and eastern Germany, has a total floor area of around 51,000 sq m. MAS paid around 56 million Euro for the acquisition. The vendor of the properties, which are in situations including Berlin, Potsdam and Wilhelmshaven, is the retail company Edeka Minden-Hannover. Kintyre initiated the deal and managed the sale-and-leaseback transaction from its new Berlin office. The Hogan Lovells legal practice, with a team led by Dirk Debald, provided legal services for the deal.
MAS has purchased a second portfolio from KR Real Estate, for around 28.4 million Euro. This comprises three Edeka stores, in Wiesbaden (Hesse), Maulburg and Freudenstadt (Baden-Wurttemberg). They provide a total of 22,000 sq m of retail accommodation. Kintyre, which also facilitated this transaction as transaction manager, has now been instructed to carry out the long-term management of the properties.