Credit: Novapierre
Ticker

SCPI Novapierre Allemagne acquires four retail parks in Frankfurt, Germany

The SCPI Novapierre Allemagne fund, managed by PAREF Gestion and advised by Principal Real Estate Europe, has acquired a portfolio of four retail warehouse centres with convenience shopping potential in the south-western surroundings of Frankfurt.

The centres, in Alsbach (2 assets), Bischofsheim and Bürstadt, provide a total lettable area of 9,800 sq m. The current vacancy is 10% and the weighted average unexpired lease term (WALT) is 4.5 years. The major anchor tenants are Alnatura, Penny, Shoe4You and KiK. Novapierre Allemagne (launched in January 2014) has now successfully closed 54 assets with €495m of acquisitions in Germany. Curtis, Mallet-Prevost, Colt & Mosle LLP provided legal advice to the purchaser. The vendor was advised by HauckSchuchardt. The technical consultant was Duff & Phelps REAG GmbH. Grüneberg Property GmbH brokered the deal.

Sign up for our ACROSS Newsletter. Subscribe to ACROSS Magazine.

Ticker MORE

Grosvenor Appoints First Director of Sustainability & Innovation

In the first appointment by new CEO James Raynor, Tor Burrows has been selected as Director of Sustainability and Innovation for Grosvenor Britain & Ireland.

Staging connects: umdasch presents itself holistically connected at the EuroShop 2020

umdasch The Store Makers will be presenting new perspectives for the retail of the future on a stage of over 900 sq m at this year’s EuroShop in Dusseldorf from 16 to 20 February (Hall 12, Stand C55).

Yurdaer Kahraman joins ACROSS Advisory Board

The ACROSS Advisory Board is happy to announce its latest addition and welcomes Yurdaer Kahraman as its new member.

intu Costa del Sol gets green light

intu announced that it has been awarded a General ‘PGOU’ License (Plan General de Ordenación Urbana) for its ground-up development intu Costa del Sol.

GPEP launches food retail fund with 68 properties

Institutional fund incepted by HANSAINVEST Hanseatische Investment-GmbH invests in discount stores, supermarkets, retail centres and retail parks in Germany.

Primark has announced new store locations

Following a rise in sales over November and December high street retailer Primark has announced it will be expanding with 18 new stores to come this financial year.