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TIAA Henderson Real Estate acquires supermarket in Germany

TIAA Henderson Real Estate has purchased a supermarket store in Weinheim, Germany, on behalf of its German Retail Income Fund (GRIF).

TIAA Henderson Real Estate (TH Real Estate) has purchased a supermarket store in Weinheim, Germany, on behalf of its German Retail Income Fund (GRIF). The property was acquired from a private investor advised by Hamburg-based asset manager CIT Europe. The purchase price has not been disclosed.

The property, currently used by Marktkauf-Scheck-In-Center (EDEKA Group), with an additional area let to the fitness studio “Clever fit”, is located in the southern part of Weinheim at Gewerbestraße 7, close to the national highway B3. Built in 2001, it has a total lettable area of 10,500 sq m and more than 440 parking spaces.

Jones Lang LaSalle advised the seller.

The purchase represents the 11th acquisition for GRIF which targets core retail property and local shopping centres across Germany.

Thilo Wagner, Director of Investment, Germany, said: “The acquisition of Weinheim was a very attractive proposition for the Fund. It is ideally situated in close proximity to both Heidelberg and Mannheim which gives it an optimum catchment area. In addition, it has excellent transport links."

 

Disclaimer
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
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