Morgan Stanley Real Estate Investing's joint venture with German property company Redos has bought 18 retail assets from a private investor. The financial details of the transaction were not disclosed. The joint venture, established in 2010, now has a portfolio of more than 40 properties in the western states of Germany.

The latest acquisition consists mainly of self-service department stores in Baden-Wurttemberg and Lower Saxony with a total rented area of more than 150,000 m2.

The joint venture is targeting specialist store centres, self-service department stores as well as hypermarkets.

Morgan Stanley Real Estate Investing (MSREI) is the global real estate investment arm of investment bank Morgan Stanley. Established in the early 1990s, MSREI has acquired over $175 bn (EUR 123 bn) of assets during the period in 36 countries.

Redos Real Estate is an investor, project developer and asset manager in the German retail real estate market. The company manages a portfolio of over 100 retail properties with a total value of more than EUR 1 bn.