Credit: Metro

Revcap sells six Metro stores to MiDEAL Real Estate Funds

Revcap has sold six Metro stores with a total leasable area of ca. 130,000 sq m to Israeli fund manager MiDEAL Real Estate Funds.

The buildings, which are leased long-term to the Metro Group, are located in Würselen near Aachen, Sankt Augustin near Bonn, Gundelfingen near Freiburg, Koblenz, Regensburg and Korntal near Stuttgart.

Matthias Wilke, Managing Director of Revcap Germany, says: “We acquired the cash & carry stores in 2018 for our core-plus strategy. Since then, we have extended leases across the portfolio beyond 2032. The stores are all located in economically strong regions and cities, and in ideal locations for retail and last-mile logistics.”

Raviv Koren, Managing Partner of MiDEAL, said, “The transaction is a direct continuation of our growth strategy in Germany and in Western Europe. We see high demand in the locations of the properties in the portfolio and are convinced of the success of the current but also possible alternative uses.”

The company plans further investments for its core-plus and value-add strategies in Germany, as well as strategic investments. MiDEAL will continue investment activities in Western Europe and Germany with the goal of deploying capital from its latest fund, “MiDEAL II.” The company plans to expand its portfolio by around EUR 1 billion over the next three years.

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