Frankfurt-based fund manager Habona Invest Group has secured a portfolio of eight stand-alone Netto discount stores in Germany from Prebag Holding for €36.5 mln.
The acquisition was conducted on behalf of the second open-ended real estate special fund Habona Deutsche Nahversorger 02, launched with Deka Immobilien and managed by Hansainvest, which is targeting a maximum investment volume of €270 mln.
Seven of the stores are in Bavaria (Altenstadt, Arzberg, Brand in der Oberpfalz, Buttenheim, Grafenwöhr, Großheubach and Höchstädt) and one in North Rhine-Westphalia (Goch).
The portfolio consists of four new buildings, two extensions and two existing properties, all of which are fully leased.
The new buildings, due for completion by 2024, will incorporate key ESG criteria through the installation of photovoltaic systems and e-charging columns.
The managing director of Habona Invest Asset Management, Carsten König, said: ‘Special challenges require great trust. We are very pleased about the partnership off-market transaction with Prebag Holding and thank all parties for continuing our successful business relationship.’
Ulrich Weindl, CEO of Prebag Holding, added: ‘We are proud and grateful in these uncertain times, characterized by price declines on the exit side and immense cost increases on the cost side, to have reached a deal with Habona Invest GmbH with a crisis-resistant buyer.’
The WAULT for the entire portfolio is almost 14 years.
Habona Invest was advised on the purchase by law firm Menold Bezler and CBRE.
Habona is planning further acquisitions for the special fund, focusing on online-resistant local supply properties with creditworthy main tenants from the food retail sector.
