Frankfurt-based fund manager Habona Invest has acquired two retail parks in the Bavarian cities of Passau and Kirchseeon from the Küblböck Group for around €26 mln.
The purchase was made for the second open-ended real estate special fund Habona Deutsche Nahversorger 02 launched for Deka and managed by Hansainvest.
The portfolio comprises around 6,800 m2 of total rental space and both locations are leased to German supermarket chain Edeka on a long-term basis and include a drugstore.
In Passau, the previous Edeka store was replaced by a new building in 2021 and extended to include a beverage market and Rossmann drugstore chain.
In Kirchseeon, south-east of Munich, a DM drugstore was built on an approx. 8,000 m2 site next to an Edeka store.
Guido Küther, managing partner of Habona Invest, said: ‘The local supply asset class continues to offer good investment opportunities. Our focus on online-resistant and crisis-proof local supply properties, which are also readily integrated into neighbourhoods, has proven to be far-sighted and not just during the pandemic. This portfolio, which was acquired in the past few months, also meets the yield expectations and security needs of investors thanks to attractive general conditions and long lease terms averaging around 12 years.’
Habona was legally advised by law firm Menold Bezler, and the acquisition was brokered by consulting firm Blank Real Estate.
