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