Hahn acquires a retail park in Bravaria for €17m

German property investor Hahn Group has acquired a retail park in Bavaria for €17 mln.

The 13,400 m2 property is located in the town of Landshut is occupied on long-term leases by anchor tenant, DIY store Bauhaus, and food discounter Penny. Both retailers have operated there since the park opened in 2005.

Hahn carried out on behalf of its institutional fund, HAHN FCP-FIS German Retail. Estama Investment Management was the exclusive selling agent, acting for the owner, London-based Edinburgh House.

The transfer of ownership took place at the end of 2015. Loschelder, Cologne, and Taylor Wessing, Hamburg, were the legal advisers.

Following the acquisition HAHN FCP owns €600 mln of assets. The portfolio consists of 30 large-scale retail properties and offers a target IRR of 8%.