MEAG, an asset manager of Munich Re and ERGO, completed the acquisition of 12 retail parks in Germany from Patrizia, a real estate investment company, for $473m. "With this focused investment strategy, MEAG is reacting to the growing interest of institutional investors looking to optimise their earnings/risk structure with food-based retail properties. We are very happy to have secured these twelve attractive properties in this portfolio transaction for our clients from Munich Re Group and our other institutional investors," Dr. Hans-Joachim Barkmann, MEAG Managing Director Real Estate.