HIH Invest Real Estate acquires Warnow Park in Germany

HIH Invest Real Estate has acquired Warnow Park in Rostock, Germany, on behalf of an individual mandate given by an institutional investor. The district center was sold by Highstreet VIII, a retail property fund managed by Corestate.

The property, which opened for business in 1995 and was modernized in 2010, has a net internal area of 40,470 square meters (435,615 square feet) and divides into about 26,000 square meters (279,861 square feet) of retail floor area on the ground floor and first floor up. In addition, there are about 30 split-level apartments with a combined floor area of about 2,300 square meters (24,756 square feet) on the second and third floor, as well as 1,125 square meters (12,109 square feet) of office space.

The long-term master tenant of the property is Edeka Nord, a food retail chain that operates an e-center hypermarket. The primary sub-tenants include retail chains KIK and Takko, drugstore dm Drogeriemarkt and home-furnishing store Jysk. Ten un