Bank Investing In German Real Estate

According to Reuters reports Morgan Stanley Real Estate (MSREF) and Redos Real Estate are preparing to purchase “Bavaria” presently by METRO Group Asset Management.

 

Morgan Stanley has not yet entered into any contract for buying the portfolio, as per the German multinational Haniel, which has controlling interest of more than 50% together with the Schmidt-Ruthenbeck family in Metro Group. The portfolio is estimated to be valued at approximately €800 million ($1.1 billion) and consists of 43 Metro Cash & Carry stores as well as 19 Real hypermarket sites, a spokesperson of Haniel added.

 

However, no further clarification regarding the deal has come from Morgan Stanley and Redos Real Estate representatives.

 

Earlier in May 2010, Reuters had reported that Morgan Stanley decided to stop the sale of shares of its German open real estate fund, P2 Value, until October 30, 2010 due to continued market uncertainly and possible write downs on the property holdings.

 

During May 2010 Homesgofast.com overseas property website saw a 37% increase in enquiries for German real estate by international investors.    

 

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