According to Reuters reports Morgan Stanley Real Estate (MSREF) and Redos Real Estate are preparing to purchase “
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.
Find German Investment Property
Are you looking to buy property in Germany ? Berlin , Bavaria , Frankfurt Am Main , Mörschied , Greiz
Are you looking to rent property in Germany ? Heringsdorf (seebad) , Sylt/westerland , Ahlbeck (seebad) , Bansin (seebad) , Berlin
Author
Nick Marr
I am an internet entrepreneur with a passion for driving big audiences and a love for real estate. I have had plenty of ups and downs which has given me the experience to help others launch their own businesses. I enjoy projects that save consumers time and money, challenge convention and add real value to peoples lives.