- Patrizia has sold a portfolio of twelve retail parks with a total area of around 180,000 sqm to Meag.
- TA Europe carried out the complete Vendor Technical Due Diligence on behalf of Patrizia.
Essen, 14 September 2021 – Another large retail portfolio has changed hands, with TA Europe acting as the technical advisor on behalf of the vendor Patrizia: The asset manager MEAG acquired the properties for clients of Munich RE and two real estate funds.
TA Europe was commissioned to carry out the portfolio due diligence for the twelve retail parks, which are located all over Germany, in the cities of Bous, Kassel, Lahr, Landsberg am Lech, Leer, Limburg, Lüneburg, Neumünster, Neuss, Remseck, Senden, and Viersen.
The buildings’ lettable areas range from 4,000 sqm to almost 35,000 sqm. The tenants include well-known retailers like Edeka and Kaufland. The scope of TA Europe’s services covered the detailed review of the relevant technical documentation in the data room, site inspections of the properties and the thorough technical risk appraisal as part of the reporting.
This is one of several real estate deals where TA Europe supported its long-term client Patrizia: Most recently, TA Europe advised the global investor on the sale of a logistics site in Werl, and earlier on on the acquisition of an office building in Berlin, the transaction of 7 OBI DIY stores or the Dune retail portfolio.
As this transaction illustrates, TA Europe continues to be involved in high-value portfolio deals from various asset classes, such as the Matrix logistics portfolio or the Omega office and logistics portfolio.
