LaSalle sells German retail park portfolio

LaSalle Investment Management has sold a portfolio of three German retail parks to pension funds “Pensionskasse der Mitarbeiter der Hoechst-Gruppe VVaG” and “Höchster Pensionskasse VVaG” on behalf of the LaSalle German Income and Growth Fund.

The properties, which are located in Berlin and the Bavarian cities of Eching and Oberau, have a total floor space of c 9.000 square metres and are let to several retail chains including anchor tenants like EDEKA and REWE.
Colliers International in Munich acted as broker in the transaction.
The LaSalle Income and Growth Fund is a closed property fund with a total volume of around EUR1bn investing in German commercial properties.

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