A consortium comprised of RREEF, GREF (Generali Group ), Borletti Group and Pirelli RE

A consortium comprised of RREEF, GREF (Generali Group ), Borletti Group and Pirelli RE has signed a binding agreement with Karstadt Quelle AG (Arcandor Group) to acquire its 49 per cent stake in Highstreet, the investment company that owns the majority of the German department store premises. The portfolio comprises 164 properties located in Germany, providing a total gross area of 3.2 million square meters (total lettable area of 2.1 million square meters).