Germany's Hamborner REIT has announced the acquisition of two properties in Erlangen and Offenburg, bringing its total portfolio value to around EUR 487 mln.

The recently-converted German real estate investment trust has bought Campus Röthelheimpark, a new shopping, service and office centre in the east of Erlangen for around EUR 28 mln. The asset providing around 11,500 m2 of usable space was acquired from its developer Sontowski & Partner.

Hamborner also purchased a retail property situated in a prime location in Offenburg's pedestrian zone and leased to the drugstore chain operator Müller. The vendor is a retail fund managed by Cordea Savills.

By the end of 2011, Hamborner plans to have increased the value of its portfolio to EUR 500 mln through further purchases, the company said in a statement.

Duisburg-based Hamborner focuses on retail space in city centre locations throughout Germany and also owns around 2.4 million m2 of undeveloped land.