Paref Gestion has acquired a retail park in Naumburg for its SCPI PAREF Prima strategy, as it continues to expand in Germany.
The retail park, which is fully let to food retailer Kaufland, was purchased from real estate fund BBV 9, represented by KKL Consulting.
The property has around 12,000sqm of gross lettable area spread over three levels, as well as 340 parking spaces.
Paref said the acquisition strengthens SCPI PAREF Prima’s exposure to the food retail and essential commerce sector, while improving its weighted-average lease break and further diversifying its portfolio.
Anne Schwartz, CEO of Paref Gestion, said: “We are delighted with this new acquisition, which further strengthens the already high quality portfolio of the SCPI PAREF Prima. This asset, leased to a top-tier tenant, perfectly illustrates the SCPI’s strategy of diversifying its portfolio across Europe, particularly in resilient sectors such as food retail distribution.”
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