Rockspring Acquires Retail Assets in Germany, Spain
Rockspring Property Investment Managers, a London-based fund manager, has made a number of recent acquisitions in Germany and Spain.
Rockspring has purchased a shopping centre in Esslingen, Germany, from SEB Asset Management for €69 million. The property, known as Das Es!, totals 23,000 square metres, comprising 14,500 square metres of retail space, 8,500 square metres of office space and 322 parking spaces. Das Es! is anchored by H&M, Saturn Electronics and C&A.
Rockspring has also acquired three retail warehouses on behalf of the Rockspring German Retail Box Fund. The properties, located in Neuss, Kassel and Leer, were acquired from a private investor for €62.2 million.
In Spain, Rockspring purchased 22 neighbourhood grocery stores and standalone units for €45.5 million. The assets, which total 8,825 square metres, were sold by Spanish food retailer Eroski in a sale-and-leaseback transaction.