SCPI Novapierre Allemagne 2 fund, the second Pan-European investment platform jointly managed by PAREF Gestion and Principal Real Estate Europe, has acquired two retail properties in Germany.
The first asset is located in the Brink Hafen commercial area in the north of Hanover. With a leasable area of 13,000 square meters (139,930 square feet), the asset serves as a DIY center for the company toom.
The vendor of the property is one of the funds managed by MCAP Global Finance, a European subsidiary of New York–based Marathon Asset Management. The extension of the lease to toom was pre-negotiated by JLL. The lease now has an unexpired term of more than 10 years.
The second property is a shopping center in Torgau, Saxony, which is occupied by Kaufland, Obi and a dm drugstore. The property has a lettable area of 26,300 square meters (283,090 square feet) and was sold by the DC Cheyne Deutsche Fond XI S.C.S. fund, managed by OEH Advisory.
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