Henderson Global Investors, on behalf of its German Retail Income Fund has acquired a retail warehouse in Norden, East Frisia in Germany for ca. €23 million.
The asset, with 12,675 m² lettable area, was acquired from, Norder Tor GmbH & Co. KG, who completed development of the building in March last year. Its main tenants include food retailers Kaufland and Aldi as well as the drug store chain-Rossmann.
It represents the eighth acquisition for the Fund.
Thilo Wagner, Manager of the Fund, said: “The strategy for the Fund involves the acquisition of retail parks, anchored by a supermarket operator. Investment criteria is for assets which are dominant in their catchment area, having been recently developed or newly renovated and let to high caliber tenants. In this respect, this acquisition was an excellent fit. Additional benefits include the added regional diversification that it introduces to the Fund as well as the strong covenants across the park.”