PAREF Gestion, acting on behalf of SCPI NOVAPIERRE Allemagne 2, has acquired an OBI DIY store in Duren, North Rhine-Westphalia, Germany. The asset was purchased from Reinhard Grundstucksverwaltung GmbH. The property, which is fully occupied by OBI, stands on an around 33,000m² site. Constructed in 2011, it provides a lettable area of 12,000m². The property includes 370 car parking spaces.
The scheme benefits from an established location directly on the federal road B56. As such it enjoys high visibility and footfall. The deal follows the successful placement of NOVAPIERRE Allemagne Fund and previous successful collaboration with Principal Real Estate Europe, Principal Global Investors' European real estate investment platform.