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TH Real Estate acquires superstore near Nuremberg, Germany

TH Real Estate has acquired a superstore in Germany, on behalf of its German Retail Income Fund (GRIF). The investment includes a shopping gallery and an adjacent vacant plot of land in the Nuremberg metro area. It represents the thirteenth and final investment for GRIF, which is now fully invested across Western Germany, with a portfolio of dominant food-anchored retail warehousing and hypermarkets.

Going forward, Marcus Mack will take over as Fund Manager, replacing Thilo Wagner, who will continue in his role as director of investment, focusing on other aspects of the German business. The appointment reflects the increased focus towards asset management, as opposed to sourcing further investments. Marcus has been with the company for eight years and has worked closely with Thilo on the Fund since its launch in 2011.

Built in 1998 and extending over 10,500 sq m (c.113,000 sq ft), the complex of buildings is part of the Espenpark trading estate in Burgthann, a town located in the south-east of Nuremberg. Adjacent to the B8 federal route, it is ideally located close to the A9 and A3 motorways. Kaufland, the anchor tenant, completed extensive conversion and refurbishment works in 2013. The trading estate is also home to other retailers, such as an Aldi Süd food market and various small trade businesses.

GRIF is managed via the IntReal third-party AIFM (“Service-KVG”) platform.

Marcus Mack, Fund Manager, GRIF, TH Real Estate, commented “The superstore represents an ideal final investment for the GRIF portfolio. The great transportation access to the Nuremberg metro area, the highly-frequented main street, and the trading estate, which all help to drive footfall for the property, are further complemented by a strong and secure tenant. We look forward to actively managing this asset, alongside the rest of the portfolio to help drive investor returns.”

Issued by Henderson Real Estate Asset Management Limited, 201 Bishopsgate, EC2M 3BN. Authorised and regulated by the Financial Conduct Authority. TH Real Estate is a name under which Henderson Real Estate Asset Management Limited provides investment products and services. The value of investments and any income will fluctuate (this may be partly be the result of exchange rate fluctuation) and investors may not get back the full amount invested. Where opinions have been expressed, they are based on current market conditions and are subject to change without notice.

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