By IPE staff2021-06-01T10:42:00+01:00
Tristan Capital Partners is buying a €1bn diversified real estate portfolio in Germany on behalf of its EPISO 5 opportunistic fund.
The manager said it has agreed to buy the non-listed portfolio controlled by Summit Real Estate Holdings, and 77% of the listed GxP German Properties platform.
The total commercial platform is made up of 69 assets. The 630,812sqm portfolio comprises around 60% of knowledge office space, 30% warehouse/industrial space and the remainder is made up of necessity-led retail parks and mixed-use assets.
Tristan Capital said the portfolio offers significant value creation opportunities, including the potential for development across residential, office and industrial sectors, in markets where the manager has a strong track record, including Berlin, Heidelberg and Cologne.