GPEP GmbH (GPEP) has acquired a portfolio with 18 food retail discounters and 17 full-range retailers on an exclusive order for a Luxembourg special fund of Bayerische Versorgungskammer. The “Truffle” portfolio includes 35 properties nationwide with a rentable area of around 66,000m² and generates an annual rent of almost €9m. More than 90% of the space is leased to market-leading and creditworthy food retailers, including REWE, Edeka and Netto. The occupancy rate is over 99%. Most of the properties were built in 2014 or the following years. The average remaining rental period (WALT) is around 10 years. The parties involved have agreed not to disclose the purchase price.
Jorn Burghardt, Managing Director of GPEP, said: “With the purchase of the Truffle portfolio, we have succeeded in acquiring one of the most attractive food retail portfolios of the year 2021 for our investor - the Bayerische Versorgungskammer - in an extremely competitive market environment. This enabled us to increase our assets under management to just under €2bn."
Marcel Fuhr, managing partner of GPEP, commented: "We plan to continue our growth path in 2022 and expect investor demand for real estate in food retail trade to continue to rise."
Johannes Palla, managing partner of Habona, added: “Habona also draws an extremely positive conclusion: With the timely liquidation of the fund, the investors in Habona Fonds 05 will receive a whopping extra return this year and a double-digit IRR return overall. We are very pleased to be able to significantly exceed the forecasts with our fifth public fund and thus to confirm the fund concept once again. "
