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April 21, 2020

Galeries Lafayette and BHV Marais have joined the nationwide response to France’s unprecedented health crisis with a substantial donation to Assistance Publique-Hôpitaux de Paris (AP-HP), adding to the support already given to Bichat-Claude Bernard Hospital by Eataly Paris Marais, which Galeries Lafayette group has the exclusive franchise for in France.

redos Group has acquired a portfolio consisting of six retail properties from EDEKA Handelsgesellschaft Rhein-Ruhr mbH, which is part of EDEKA Group, one of Europe’s largest food retailers. All of the properties are located in the northwest German state of North Rhine-Westphalia and are earmarked for the Redos Einzelhandel Deutschland II institutional fund, managed in partnership with Union Investment.

The company received the approval of the German government for the participation of KfW, Germany’s state-owned development bank, in a syndicated revolving loan facility amounting to € 3.0 billion at customary market conditions to bridge this unprecedented situation.

“The lessor & lessee relation reflected in traditional lease models we are currently familiar with will transform into partnership models where risks and benefits will be shared.”