Frankfurt, 30 September 2010 – Internos Real Investors LLP has concluded a refinancing of 37.5 million euros with Berlin Hyp for the German Retail Partnership Fund (GRP fund). This enables the fund to extend its portfolio with further acquisitions up to 200 million euros. The financing, secured by property stock, has been agreed for a period of six years. The first acquisition financed by this refinancing has already been conducted.
Internos GmbH, Frankfurt, succeeded in acquiring a neighbourhood shopping centre in Volkach, near Würzburg, opened in 2009, which has long-term leases with the tenants Edeka, Norma, Müller, AWG, Quickschuh and a chemist. The property was sold by allobjekt Gewerbeimmobilien GmbH & Co. KG, Würzburg, the agent was BNP Paribas, Frankfurt.
The GRP fund now comprises a portfolio of 60 neighbourhood shopping centres and supermarkets throughout Germany.
In addition to this retail park, further properties are also set to be purchased with capital resources to the amount of the refinancing tranche recently concluded. The focus is on neighbourhood and local shopping centres with food anchor tenants in western Germany in particular, with sales areas of at least 3,000 sq m.
Image material for editorial use at ftp://ftp.targacommunications.de/Internos/
Website www.internosreal.com
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