GARBE Institutional Capital as asset manager has acquired an additional investment property on behalf of the retail property fund ENGA Handelsimmobilien-fonds Nr. 1 launched with Service-KVG IntReal International Real Estate. The seller is a project vehicle of RN Beteiligungs GmbH, a developer in Leverkusen, North Rhine-Westphalia.
The alternative investment fund (AIF) invests in Core and Core Plus properties. Investment participations are open to German institutional investors starting from EUR 5 million. IntReal International Real Estate Kapitalverwaltungsgesellschaft in Hamburg serves as the fund’s capital management company (KVG). The retail park located at Metternicher Weg 1-7 in the town of Swisttal-Heimerzheim on the western outskirts of Bonn offers more than 4,700 sq.m. and is fully let, with a weighted average unexpired lease term (WAULT) of approx. 13 years. The established tenants include prominent names of high credit quality including discount supermarket chains ALDI SÜD and Netto, German drugstore chain dm and fashion discounter KiK. The structure was completed in the fourth quarter of 2022 in compliance with the ambitious KfW 55 EE energy efficiency standard, including photovoltaic power generation integrated into the roof of the ALDI supermarket.
The property is conveniently located at the entrance to Heimerzheim, a district within the municipality of Swisttal, with direct access from the A-61 motorway by way of state road L182, roughly 30 minutes by car to the west of Bonn.
“With this transaction we have secured yet another attractive asset on behalf of our investing clients,” explains Harun Attar, Senior Investment Manager at GARBE Institutional Capital. “We are taking the next step as we expand and strengthen our investment platform for food-anchored retail real estate, thereby living up to our claim to market leadership and innovation leadership within this asset class in Germany.”
Toward the end of last year, GARBE Institutional Capital announced the acquisition of GRR Real Estate Management GmbH, thereby creating one of Germany’s leading investment platforms for food-anchored retail properties. The transaction was completed at the start of this year.
GARBE Institutional Capital was advised on the transaction by the Düsseldorf law firm Rotthege (legal and tax due diligence) and by Schuster Real Estate Consulting in Ansbach (technical due diligence). The transaction was brokered by GBV Immobilien in Nuremberg.
About GARBE Institutional Capital
GARBE Institutional Capital GmbH is a business unit of GARBE, a German-headquartered entrepreneurial real estate investment management and development business with a combined staff of approx. 600 professionals across 17 offices in 11 countries. The group manages approx. EUR 15 billion of assets.
GARBE Institutional Capital is a vertically integrated investment manager and real estate developer investing in established and emerging markets throughout Europe. It strives to build mutually beneficial bridges between institutional investors and actively managed real estate assets. To maximize long-term value creation, the company takes an entrepreneurial approach to asset management and to its many development and revitalization initiatives. The firm offers its institutional partners access to superior investment opportunities including regulated real estate funds, club deals and separate accounts.
GARBE Institutional Capital has local expert teams in Hamburg, Frankfurt, Nuremberg, Amsterdam, Milan, Prague, London, and Madrid.
This is marketing communication. Please be sure to study the investment rules and other contractual documents, the document prepared in accordance with Art. 307, Sec. 1 and 2, German Capital Investment Act [KAGB], (“the Art. 307 document”), the basic information sheet as well as the latest annual report of the ENGA Handelsimmobilienfonds Nr. 1 (“the Fund”) before finalising your decision to invest. These documents are available only in their original German versions. Said documents represent the sole binding basis for the subscription of shares in the investment fund. A summary of the investor rights in German is available in electronic form here. Upon request, we will send you the print version of the aforesaid documents free of charge. You may request these from IntReal International Real Estate Kapitalverwaltungsgesellschaft mbH (“INTREAL”), Ferdinandstrasse 61, 20095 Hamburg, Germany.
The fund represents an open-ended special AIF with fixed investment rules pursuant to Art. 284, German Capital Investment Act (KAGB) and must not be marketed to retail investors within the meaning of Art. 1, Sec. 19, No. 31, KAGB.
This fund represents an actively administrated investment fund whose management is not linked to a benchmark index. By subscribing shares, you will acquire an interest in the investment fund rather than acquiring the actual assets held by the fund (e. g. real estate assets) and purchased by INTREAL for the account of the fund.
The fund invests primarily in real estate and thus in illiquid assets. Depending on the circumstances, it may prove difficult to sell these, to the point where share redemptions may be subject to a delay or may have to be suspended altogether from time to time. For detailed information about the risks to which an investment in the fund is exposed, please see the Art. 307 document. The main risks are also identified in the basic information sheet.
If any details on individual financial instruments or issuers are disclosed, such disclosures are not intended as recommendation of certain financial instruments.
The prospective performance of the fund also depends on the personal tax situation of a given investor and may be subject to change over time. Please note that this document neither represents nor substitutes for legal or tax advice.
While this document and the assumptions it contains were compiled with due care and in good faith regarding the accuracy of data disclosed to us by third parties, we offer no warranty as to the accuracy, completeness, and currency of such information. Moreover, the parameters underlying the document are subject to change, so that these assumptions may cease to be tenable at a later point in time.
Source: GARBE Institutional Capital (as of 31.01.2024) unless other sources are indicated.