Pan-European investor Principal Real Estate Europe has acquired a DIY centre in Rostock on behalf of French fund manager Paref Gestion.

Toom DIY

Toom DIY

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.