Cash & Carry operator Metro Group has agreed to lease extensions on six Revcap-owned wholesale stores in Germany beyond 2032.
Revcap which operates across Europe, acquired the properties in 2018. They are located in Würselen near Aachen, Sankt Augustin near Bonn, Gundelfingen near Freiburg, Koblenz, Regensburg and Korntal near Stuttgart. Collectively they have about 130,000 sq m of floorspace and are all are located in strong catchment areas.
“We acquired the properties with a view to their good location for last-mile logistics at high-turnover locations,” said Revcap Germany managing director Matthias Wilke “In partnership with Metro, we have now been able to establish the cash & carry and logistics usage in the long term.”
Revcap, founded in 2004, has offices in Frankfurt, London, Paris and Stockholm and has participated in property investments worth more than €10 billion, of which more than €3 billion has been in Germany.