GARBE Institutional Capital as asset manager has acquired an additional investment property on behalf of the retail property fund ENGA Handelsimmobilien-fonds Nr. 1 launched with Service-KVG IntReal International Real Estate. The seller is a project vehicle of RN Beteiligungs GmbH, a developer in Leverkusen, North Rhine-Westphalia.
The retail park located at Metternicher Weg 1-7 in the town of Swisttal-Heimerzheim on the western outskirts of Bonn offers more than 4,700m2 and is fully let, with a weighted average unexpired lease term (WAULT) of c. 13 years. The established tenants include prominent names of high credit quality including discount supermarket chains ALDI SUD and Netto, German drugstore chain dm and fashion discounter KiK. The structure was completed in the fourth quarter of 2022 in compliance with the ambitious KfW 55 EE energy efficiency standard, including photovoltaic power generation integrated into the roof of the ALDI supermarket.
The property is located at the entrance to Heimerzheim, a district within the municipality of Swisttal, with direct access from the A-61 motorway by way of state road L182, roughly 30 minutes by car to the west of Bonn.
“With this transaction we have secured yet another attractive asset on behalf of our investing clients,” explains Harun Attar, Senior Investment Manager at GARBE Institutional Capital. “We are taking the next step as we expand and strengthen our investment platform for food-anchored retail real estate, thereby living up to our claim to market leadership and innovation leadership within this asset class in Germany.”
GARBE Institutional Capital was advised on the transaction by Rotthege (legal and tax due diligence) and by Schuster Real Estate Consulting (technical due diligence). The transaction was brokered by GBV Immobilien in Nuremberg.
Image provided by GARBE.
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