MGPA buys 140 German properties, eyes €200m more

Firm strikes property deal with German retail chain Aldi and declares it plans another €200m of investment in the country by the end of the year

MGPA, the Europe and Asia firm, has struck a deal with German retail group Aldi for 140 properties in Germany at an undisclosed price.

The firm said MGPA Europe Fund III, which was raised in 2007 and has €841 million of commitments, had acquired the portfolio. The package includes stores mainly located in southern and western parts of Germany, which will be partially leased back to ALDI SUD, as well as currently unused land and a logistics centre.

It is the first deal for the fund in Germany.

MGPA added it was planning a further €200 million of deals in the country before the end of the year, and was “actively driving its business opportunities with institutional investors”.

The real estate strategy is to build portfolios that combine properties on long term leasing contracts with properties or real estate that have “upside potential”, it added.