Hahn Group has started selling share in its closed-end Pluswertfonds 144 fund to private investors. The investment specialist for large-scale retail properties said the fund comprises a 5,280 m[sup]2[/sup] property that houses a superstore and a retail warehouse in the southern German city of Ravensburg. The tenants of the fully let property are supermarket group Edeka Group and electronics chain Mega Company.
Hahn Group has started selling share in its closed-end Pluswertfonds 144 fund to private investors. The investment specialist for large-scale retail properties said the fund comprises a 5,280 m2 property that houses a superstore and a retail warehouse in the southern German city of Ravensburg. The tenants of the fully let property are supermarket group Edeka Group and electronics chain Mega Company.
The Edeka lease runs for a twelve year term, including options to further extend the lease, while Mega's lease runs for twelve years. The premises features 337 parking spaces.
The fund has a total investment volume of EUR 10.7mln, of which EUR 3.7mln is equity capital. The initial cash yield will equal 4.25 percent annually. The minimum stake for investors wishing to commit to this closed-end property fund is EUR 20,000.
Hahn Group has around 1.5 million m2 of large-scale retail space under management at 170 locations. The company, which offers property and fund management services for private and institutional investors, has over EUR 2.3bn of assets under management.
