Doha – Mubasher: Qatar's leading investment bank QInvest and U.S.-based Pramerica Real Estate Investors on Monday acquired a portfolio of 16 retail properties in Germany, in a new joint venture between the two businesses, but the terms of the deal were not disclosed.
Pramerica will manage the portfolio and assets in the acquisition, which include different tenants.
The US company said that the acquisition will help in executing its strategy that aims at benefiting from the strong performance of the basic needs sector in Europe, including consumer goods and home supplies.
Craig Cowie, QInvest's head of principal investment and real estate investment, said that the deal provides the company with higher yields, and an additional value, as the assets exist in one of the most powerful economies in the European Union.
