Quantum Immobilien has completed the acquisition of three Karstadt department stores belonging to the Highstreet portfolio, PropertyEU reports. The German property company paid a total of €250 million for the acquisition.
The acquired properties, located in Hamburg and Münster, will be added to Quantum’s new Prime Retail Germany fund. The Highstreet group consists of the Whitehall Funds of Goldman Sachs, the RREEF funds of Deutsche Bank, Milan-based Prelios, Generali and the Borletti Group.
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