HIH Invest Real Estate has acquired three properties in Germany on behalf of its open-ended grocery retail real estate fund.

The manager has invested an undisclosed amount on behalf of the Perspektive Einzelhandel Fokus Nahversorgung fund to buy the fully-let Oyster Portfolio from investment firm Gold Tree.

The acquired assets include the 14,564sqm LudwigArkaden retail park on Potsdamer Strasse in Ludwigsfelde, the 7,148sqm Anna-Park convenience centre in Rödental and the 5,500 sqm Kaufland hypermarket on Hildesheimer Strasse in Goslar.

The sites are located in three different states and therefore well-diversified, said Jens Nagelsmeier, the head of transaction management retail and healthcare at HIH Invest Real Estate.

“At the same time, they share certain characteristics. Built between 2016 and 2019, the properties are virtually as-new while also being in excellent structural and visual condition. They are already well-established within their respective home towns, not least because their location next to main arteries implies convenient transport access.”

The latest acquisition lifts the fund’s portfolio to 24 assets worth over half a billion euros. The fund invests in retail parks and convenience centres, anchored by food retailers in economically stable locations in Germany, each worth between €10m to €40m.

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