German fund manager Warburg-HIH Invest Real Estate has acquired a newly-built retail warehouse park in Ergoldsbach for an undisclosed sum.
The manager said it has bought the fully-let 6,200sqm asset on behalf of its the open-ended Warburg-HIH Perspektive Einzelhandel Fokus Nahversorgung fund.
The fund, which targets German retail warehouse parks and neighbourhood retail centres, anchored by food retailers, now holds a portfolio of 15 assets.
Jens Nagelsmeier, head of retail transaction at Warburg-HIH Invest, said: “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.”
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