McCafferty seals German deals

SALFORD-based asset management company McCafferty has completed two property deals on behalf of one of its managed funds.

It has a five-year contract to handle the Numisma Fund – a joint venture between offshore family trust PNFT and wealth management organisation Stenham.

Numisma, which has property investments worth nearly £1bn, has extended the anchor lease of a 20,000 sq m retail park in Germany until 2028.

It has also let a 1,650 sq m unit in another German retail park it acquired in 2007 for around £380m. McCafferty referred to the deal as “Project David”.

Ben Patmore, asset management director at McCafferty said: “Even though Project David was acquired at the peak of the market it proves a well-negotiated investment with values holding strongly and great asset management opportunities.”