Frankfurt, 28th Februrary 2011 – Internos GmbH has acquired three neighbourhood retail centres for about 17.75 million euros on behalf of the retail property fund German Retail Partnership Fund I (GRP-1 Fund). The properties, all built between 2006 and 2010, are located in the western German towns of Rockenhausen in Rhineland-Palatinate, Laubach in Hesse, and Riegelsberg in Saarland, and total 11,500 sq.m. of lettable space. The three retail centres are leased for an average of a further 14 years to such well-known retail teants as Rewe, Wasgau, Netto, Rossmann and Lidl. The GRP-1 Fund, which was set up at the end of 2007, now holds a portfolio of 63 properties with a total asset value of about 178 million euros, including the latest acquisitions.
Berthold Becker, Head of Asset Management and Managing Director of Internos in Germany, comments: »With these latest acquisitions we were able in every respect to pursue our GRP-1 investment strategy of acquiring low-risk, high-yielding western German retail property assets, and to invest the 32 million euros of additional available funds arising from the refinancing of a partial portfolio at the end of last year. We intend to buy a further asset in this first quarter of 2011 for about 4-6 million euros, and thus have the fund fully invested.«
Image material for editorial use at ftp://ftp.targacommunications.de/Internos/
Website www.internosreal.com
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