Deutsche Investment just acquired two grocery retail venues, located in the Bavarian towns of Abensburg and Beilngries, for a total consideration of c. EUR 9.5 million. The acquisition was transacted by DIR Deutsche Investment Retail GmbH on behalf of the “Deutsche Investment – Food Retail I” special property fund. The properties were sold by the AB-Bayern project company, a joint venture by Belmo Invest based in Monheim and Neumann Development based in Hamburg. Both properties were let on long-term leases after having been repositioned.
The venue in Abensburg represents an established neighbourhood retail centre in an integrated location, occupied by a NETTO discount supermarket and a dm drugstore. The facility occupies a plot of about 5,400 square metres and provides a lettable area of about 1,900 square metres as well as 84 parking spots. The location, an established retail site since 2002, was expanded in 2017.
The grocery property in Beilngries is let to a NETTO branded discount supermarket on a long-term lease. The structure was built on a plot of about 4,200 square metres in 2004. In 2022, the property underwent an extensive expansion and upgrade. One of the most compelling aspects of this integrated site is its central location near the intersection of the main local thoroughfare, its high recognisability and the attractive retail line-up in its vicinity.
“The fund portfolio is being supplemented with two outperforming retail properties in excellent locations marked by a high footfall. The transaction brings the fund portfolio of our first investment fund up to a total of 65 assets,” elaborated Matthias Kreil, the Head of Transaction Management.
DIR was advised by the law firm SOZELIO Rechtsanwälte (Florian Aulbach, Dr Matthias Benedikt) in Nuremberg and by SREC Schuster Real Estate Consultants in Ansbach.