Warburg-HIH Invest Real Estate (Warburg-HIH Invest) has acquired a retail warehouse park, located on Landshuter Strasse in the Bavarian town of Ergoldsbach.
The new-build retail warehouse park with a gross lettable area of around 6,200 square metres and 230 parking spots was completed during the third quarter of 2020.
The anchor tenants of the fully occupied property are the retail multiples Rewe (food), Aldi (discount food) and Rossmann (toiletries). These three companies signed long-term leases for the next 12 to 15 years. The location’s retail line-up is supplemented by a textiles store and a food venue. The average remaining lease term (WAULT) is close to 14 years.
Warburg-HIH Invest said the acquisition took the form of a forward funding arrangement within the framework of an asset deal dating back to summer of 2019. It was agreed not to disclose the selling price.
“The acquisition is helping us not only to boost the profitability of our local retail investment fund but also to further diversify the regional spread of its portfolio, its tenant structure and its lease terms,” commented Jens Nagelsmeier, Head of Retail Transaction at Warburg-HIH Invest.
The town of Ergoldsbach in the Lower-Bavarian district of Landshut serves as retail centre for another 29 localities of the municipality, so that its catchment area extends well beyond the city boundaries. Ergoldsbach is highly popular among commuters because of its proximity to Munich airport (travel time: 45 min.) and Munich proper. The cities of Regensburg and Landshut also lie within easy reach.