PORTFOLIO: FUND I
Media Markt (Cologne)
5,500 sm single tenant retail box with well known brand name in class A retail park in Cologne
In May 2010 ASG’s Fund I purchased a retail outlet occupied by well-known electronics retailer Media Markt (part of the Metro Group). This off market transaction was a “win-win” transaction for both sides. While the underlying real estate already produced stable cash flows at acquisition, the seller – a German real estate developer – was distressed and in need of cash, so willing to sell at a favorable price to ASG. ASG has built a relationship with Media Markt and offered a high level of client service that has in turned prompted this well-known electronics retailer to negotiate and extend the lease.