MGPA, the private equity real estate investment advisory company, has exchanged contracts for the acquisition of a real estate portfolio from Germany’s discount retail company Aldi Sued.

The 140 properties will be managed by MGPA Europe Fund III.

The properties, mainly located in the Southern and Western parts of Germany, are stores which will partially be leased back by Aldi Sued, as well as currently unused land and a logistics centre.

The purchase price is undisclosed.

Marius Schöner, MGPA’s managing director for Germany, says: “This is the first transaction in Germany involving MGPA Europe Fund III, which only began investing last year. We have sufficient capital to make further interesting investments. During the next six months, our focus lies on retail properties and also specialist outlet stores as well.”

MPGA plans to raise its investment volume in Germany, with plans to invest up to EUR200m by the end of 2010. The strategy is to build portfolios that combine properties on long term leasing contracts with property or real estate that have upside potential.