Dutch private property company Redevco is rolling out an expansion strategy in Germany that aims to restructure and substantially grow its portfolio in the country.

The company has recently invested around EUR 100 mln in the acquisition of a number of German retail assets. It acquired three new retail buildings in A1 locations in Bielefeld, Kassel and Hanover under lease to SinnLeffers, Müller chemists and Karstadt Sport.

The real estate investor also purchased two Karstadt department stores in the Olympia shopping centre in Munich and the Rhein-Neckar centre in Viernheim, in total more than 70,000 m2 of lettable space.

The purchases are in line with the company's new strategy in Germany to acquire or develop city-centre retail buildings in prime locations in medium-size and major cities, the company said. Redevco will also invest on a smaller scale in dominant shopping centres while it intends to sell its office and logistics portfolios over the next five to 10 years.

In the past months, the company has disposed of four logistics and industrial properties, as well as the Solitaire office building in the Kennedydamm area of Düsseldorf.