Italy's Pirelli Real Estate and Deutsche Bank's property unit RREEF are considering launching a EUR 4.5 bn offer for a 49% stake in Arcandor's department store properties, market sources said at EXPO REAL in Munich. The two investment partners would be competing with other four bidders who are also in the running to acquire the 85 department stores and other assets.
As Ares completed a €325 mln French logistics acquisition from Blackstone, another French portfolio came onto the market.
