Principal Real Estate Europe, acting as asset and transaction manager of the SCPI NOVAPIERRE ALLEMAGNE Fund managed by PAREF Gestion, has acquired the TraunPassage Shopping Centre in Traunreut. The vendor is the MEAG MUNICH ERGO capital investment company. The purchase price was not disclosed.
Located at Werner-von-Siemens-Strasse 2 on a 23,600m² plot of land, the TraunPassage is a local shopping centre with a total lettable area of 13,550m². The anchor tenants of the property are Rewe, Muller, C&A and Adler. The current occupancy rate is around 95%, with the existing leases having a weighted average unexpired term (WAULT) of around 8.3 years. Constructed in 1995 and refurbished in 2015, the property includes 419 car parking spaces.
