Henderson acquires German retail complex

Henderson Global Investors has acquired a 13,400 m2 shopping centre in Remscheid, Germany.

The deal for the Brucken Center complex was conducted for the Henderson German Retail Income Fund (HGRIF) and represents the fund’s 10th acquisition.

The purchase price was not disclosed. Henderson acquired the centre from HBB Gewerbebau Projektgesellschaft Remscheid & Co.

The shopping centre is located in the German province of North Rhine-Westphalia and boasts hypermarket chain Kaufland Warenhandel as its anchor tenant on a long-term lease which expires in 2029.

HGRIF fund manager Thilo Wagner said the acquisition was an ´excellent´ fit for the fund. ´The long-term lease to the high-credit tenant Kaufland ensures strong site and yield security and the asset itself is in optimum condition,’ he said.

Henderson has also sold two assets in Germany on behalf on another fund.

The first, a mixed-use asset located in Hamburg, was sold to Alstertreu Hamburg. The 3,380 m2 lettable area is comprised of a supermarket, let to Netto Marken Discount, ground floor retail units and residential apartments.

The second, a retail warehouse in Luneburg, was sold to Famila Warenhaus.