Warburg-HIH Invest Real Estate has acquired a retail warehouse park, located on Landshuter Strasse in the Bavarian town of Ergoldsbach. The new-build development with a gross lettable area of around 6,200m² and 230 parking spots was completed during the third quarter of 2020. The anchor tenants of the fully occupied property are the retail multiples Rewe, Aldi and Rossmann. These three companies signed long-term leases for the next 12 to 15 years. The location’s retail line-up is supplemented by a textiles store and a food venue. The average remaining lease term (WAULT) is close to 14 years. The acquisition took the form of a forward funding arrangement within the framework of an asset deal dating back to summer of 2019. It was agreed not to disclose the selling price.
The retail warehouse park will be added to the portfolio of the “Warburg-HIH Perspektive Einzelhandel: Fokus Nahversorgung” open-ended special AIF. It will bring the number of the fund’s portfolio assets up to 15.
Jens Nagelsmeier, Head of Retail Transaction at Warburg-HIH Invest, commented: “The acquisition is helping us not only to boost the profitability of our local retail investment fund but also to further diversify the regional spread of its portfolio, its tenant structure and its lease terms.”
