HIH Invest has acquired the so-called Oyster Portfolio of three grocery-anchored retail properties from the international investment entity Gold Tree. The transaction took the form of an asset deal on behalf of “Perspektive Einzelhandel: Fokus Nahversorgung,” an open-ended special AIF focusing on grocery retail real estate.
The largest of the portfolio assets is the LudwigArkaden retail park on Potsdamer Strasse in Ludwigsfelde, a town in Brandenburg just south of Berlin, whose three building sections add up to a lettable area of 14,564m². Completed in 2016, it is anchored by an Edeka supermarket and home to a total of 19 widely diversified tenants. Its catchment area includes southern Berlin and Potsdam. Visitors have the use of over 400 parking spaces on the premises. The site area equals 28,588m².
The property in Rodental, a town near Coburg in northern Bavaria, is the Anna-Park convenience centre on Oeslauer Strasse and provides 7,148m² of lettable area plus 222 parking spots. It is anchored by a Rewe supermarket, an Aldi discount supermarket, and a Rossmann drugstore. The two-building envelopes of the Anna-Park retail venue were built in 2016 and 2019, respectively, on a plot measuring 19,904m².
The Kaufland hypermarket on Hildesheimer Strasse in Goslar, a town in Lower Saxony, was constructed on a plot of 15,263m² in 2016. Kaufland occupies around 5,500m² of floor area, and has a remaining lease term of 14.5 years. The hypermarket comes with a post-checkout area, parts of which are rented to concessionaires by Kaufland.
The three portfolio assets are fully tenant-occupied. The portfolio’s cash flow is secured for the longer term by a WAULT of 10 years. The four biggest tenants—these being Edeka, Rewe, Aldi and Kaufland—account for more than half of the total rent revenues. Jens Nagelsmeier, Head of Transaction Management Retail & Healthcare, commented: “The sites are located in three different states and therefore well diversified. At the same time, they share certain characteristics. Built between 2016 and 2019, the properties are virtually as-new while also being in excellent structural and visual condition. They are already well-established within their respective home towns, not least because their location next to main arteries implies convenient transport access."
