Internos Global Investors has acquired a shopping centre in Dortmund for the French SCPI Novapierre Allemagne fund, managed by Paref Gestion.
The retail property occupies a 4,300 m2 site at Brackeler Hellweg 137-143. The vendor is Malone Objekt Dortmund-Brackel GmbH & Co. KG, represented by Alexander Dahlke as the German director of the LAHAV Family Office.
The asset has a total lettable area of almost 4,900 m2, including around 3,250 m2 of retail space, 1,100 m2 of offices, plus nine residential units. The retail section of the building, which dates from 1975, was refurbished in 2009.
The property is fully let and principal tenants include EDEKA and Rossmann.
Agency firm Dahlke Immobilien AG acted in an advisory capacity. Fieldfisher (Germany) LLP advised the vendor on legal matters, while the purchaser's legal consultant was Mayer Brown LLP.
The SCPI Novapierre Allemagne fund plans to achieve a volume of about €200m by the end of the year, the fund manager said. This would be invested primarily in retail warehouses, retail warehouse centres and small shopping centres, in the €5-40 mln bracket.
