INTERNOS has acquired a retail property in Aschaffenburg, northern Bavaria, for its ShoppingCenterD fund. The vendor is the Redevco group. Both parties have agreed to keep the purchase price confidential.
The free-standing, four-storey building at Goldbacher Strasse 6, has a total lettable area of around 5,800 m². It is fully let on a long lease to the clothing retailer C&A. The asset is linked by a shared entrance to the adjoining City Galerie Aschaffenburg, which also belongs to the ShoppingCenterD fund portfolio.
The ShoppingCenterD fund, launched in 2005, invests in high-quality German retail property with good income and potential to enhance value. The portfolio currently comprises five properties, with a total value of around €350m.
Lawyers Reed Smith provided legal advice to the purchaser. CBRE PREUSS VALTEQ carried out the technical due diligence. CBRE acted as consultant and broker for the vendor.
