INTERNOS Global Investors, the pan-European real estate fund manager with €3.5bn of assets under management, acting as transaction and asset manager of the French SCPI NOVAPIERRE Allemagne Fund (managed by PAREF Gestion), has advised on the acquisition of a portfolio comprising eight supermarkets and a retail warehouse centre.
The vendors of the supermarket portfolio are two subsidiaries of J. Bünting Beteiligungs AG, owner of the Combi supermarkets, which is leasing back all the properties. The assets, situated in the towns of Bakum, Geeste Dalum, Haren Emmeln, Hoogstede, Meppen, Neuenkirchen, Nortrup and Rieste in Lower Saxony, have a total lettable area of 13,800 sq m. The buildings were constructed between 1989 and 2007.
The transaction was brokered by Grüneberg Property GmbH. Mayer Brown LLP provided legal services.
The retail warehouse centre also acquired is at Rheinstrasse 95/Pleurtuit Strasse 5, in Ransbach-Baumbach, Rhineland-Palatinate. The property, which has a lettable area of around 5,300 sq m and stands on an 18,850 sq m site, was sold by a company in the Bamberg-based KRE Group. The tenants include Penny, Action and dm-drogerie markt.
The legal consultant was Dentons Europe LLP and GAUKEL Immobilienberatung GmbH was the selling agent.
By the end of 2016, the SCPI NOVAPIERRE Allemagne Fund aims to achieve a volume of about €200 million, to be invested primarily in retail warehouses, retail warehouse centres and small shopping centres. The focus is on properties in the €5 to 40 million bracket, preferably with leases having unexpired terms of six to eight years.
