Pan-European investor Principal Real Estate Europe has acquired a DIY centre in Rostock on behalf of French fund manager Paref Gestion.
Financial details were not disclosed.
The asset was purchased from a private investor for the Novapierre Allemagne fund.
Located at Trelleborger Strasse 7, the property, which was built in 1994, has a total lettable area of around 8,600 m2 and is let to the Toom brand on a long-term lease.
GSK Stockmann provided legal advice to the purchaser, with Duff & Phelps REAG advising on technical matters.
The vendor was advised by the Bender Harrer Krevet legal partnership.
