Internos acquires strategic German retail portfolio

Internos acquires strategic German logistics portfolio

INTERNOS Global Investors has purchased five retail assets in Germany on behalf of the SCPI NOVAPIERRE Allemagne Fund, which is managed by PAREF Gestion. The vendor, May & Porth Group (Itzehoe/ Lüneburg), was advised on the transaction by its Berlin-based subsidiary Concarus Real Estate Invest GmbH. The purchase price has not been disclosed.


The High 5 Portfolio comprises five retail warehouses with a total lettable area of 16,555 m² and generates annual rental income of around €1.9m. Two of the properties are located in Hamburg and rest of the portfolio in Stade, Gifhorn and Flensburg. The portfolio is 98% let with a weighted average unexpired lease term (WAULT) of nine years. The tenants include Edeka, Aldi, Penny, Rossmann and Media Markt.


JLL brokered the transaction and Curtis, Mallet-Prevost, Colt & Mosle LLP provided legal advice to the purchaser.CBRE PREUSS VALTEQ GmbH carried out the technical due diligence.


The SCPI NOVAPIERRE Allemagne Fund now comprises 35 properties with a total value of around €275m. They principally comprise retail warehouses, retail warehouse centres and small shopping centres. The fund focuses on properties anchored by food retailers with lot sizes between €5-50m and leases with six to eight years remaining.




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