Cerberus Snags 2 German Retail Portfolios Out Of Receivership

Law360, New York (July 22, 2013, 6:19 PM ET) -- Affiliates of private investment firm Cerberus Capital Management LP have purchased two portfolios of German real estate properties, some from Wells Fargo & Co. and several directly out of receivership, Cerberus announced Monday.

Known as the Phoenix portfolio, one collection of properties includes nine shopping centers covering 990,000 square feet of floor space. Cerberus acquired the portfolio from Wells Fargo for an undisclosed price.

The so-called Monsoon portfolio includes 10 additional German retail properties that have an aggregate floor space of 2.8 million square feet....
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