Mayer Brown represented Universal-Investment with GPEP GmbH as portfolio manager on the acquisition of 12 retail stores with Netto Marken-Discount as anchor tenant as well as a retail center. The properties with a gross lettable area of around 20,000 sqm were sold by a project developer. The purchase price was not disclosed. The properties are located in Bavaria, Lower Saxony, Rhineland-Palatinate, Saxony and Saxony-Anhalt (Germany).

Universal-Investment’s imposed special fund invests in inner-city office and retail properties in Germany. Universal-Investment will take over fund administration and GPEP will be responsible for real estate management.

Mayer Brown already advised Universal-Investment on various retail portfolio acquisitions, most recently in June 2016 (see news release).

The Mayer Brown team included partner Dr. Joachim Modlich (lead), counsel Dr. Jürgen Streng as well as associate Sabine Krause (all Real Estate, Düsseldorf).