Noerr advises Redevco on retail estate acquisition for retail park fund

A Noerr team led by Manuel Lomb has advised real estate investment manager Redevco on expanding the portfolio of its retail park fund Redevco European Retail Parks (RERP). Redevco, one of Europe’s largest privately owned real estate investment companies with assets under management of around €10.5 billion, has acquired the Forettle Center in Kaufbeuren for RERP. The seller is investment manager Nuveen.

The retail park, completed in 2018, comprises a total rental area of 10,600 square metres, which is currently 98 per cent occupied. Tenants include REWE, dm, Clever Fit, Action and Kik. Redevco is planning extensive sustainability measures to further enhance the asset’s performance.

Advisors to Redevco: Noerr

Real Estate: Manuel Lomb (associated partner), Annette Pospich (partner, joint lead, both Munich), Hendrik Westendorf (senior associate, Frankfurt), Daniel Nikisch (associate, Munich)

Regulatory: Joachim Rung (senior associate, Munich)