GPT Halverton: Retail properties acquired for €28mn
GPT Halverton has acquired eleven German retail properties for approximately €27.8mn. The objects, with a total floor area of 18,900 sqm scattered throughout Germany, were purchased from nine different sellers. The properties situated in North Rhine-Westphalia, Rhineland-Palatinate, Bavaria and eastern Germany are to be integrated into the GRP (German Retail Partnership) fund, which thereby attains a volume of some €136mn. Further investments worth around €50mn are currently under consideration. GPT reported that the fund is expected to reach its target volume of €285mn in the first quarter of 2009.