AEW Europe said on Tuesday that its European Property Investors fund has sold Karstadt's flagship store in Hamburg to a fund managed by IVG Institutional Funds in Germany for just over EUR 94 mln. The Alsterhaus property is a long-leased, landmark asset which consists of approximately 31,000 m[sup]2[/sup] of space over five trading floors in the prime shopping street of Hamburg.
As Ares completed a €325 mln French logistics acquisition from Blackstone, another French portfolio came onto the market.
