INTERNOS completes the acquisition of a retail asset portfolio in Germany (DE)

INTERNOS Global Investors Limited (“INTERNOS”), the €3.9 billion owner-managed real estate fund management firm, has acquired a portfolio of 10 retail assets in Germany for €38.3 million. The 25,000 m² portfolio was purchased on behalf of the French SCPI Novapierre Allemagne fund, which is managed by Paref Gestion and for which INTERNOS is the transaction and asset manager.
Located across Germany in Bavaria, Baden-Wurtenberg and North-Rhine Westphalia, this portfolio is the latest addition to the ‘Novapierre Allemagne’ fund (the “Fund”), a fund set-up in joint venture between INTERNOS and PAREF Gestion, which was launched in February 2014 and is the first SCPI-structured fund to invest French capital exclusively into German retail parks.
With a target gross investment volume of more than €200 million, the Fund has a remit to invest in the west of Germany and in micro-locations with strong underlying catchment areas, typically retail parks with 4-6 units let to well-known national retailers.
Commenting on the acquisitions, Guillaume Masset, Head of Benelux and Southern Europe, said: “This is a great acquisition for the fund and is in line with our strategy to generate attractive returns from retail parks located in strongly performing regions across Germany. It also highlights our expertise in raising and investing cross-border equity in high-quality German assets. With total assets in the fund now at €50 million, we will be looking to make further purchases in the New Year.”
Source: INTERNOS Global Investors

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