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INTERNOS acquires two German retail parks



INTERNOS Global Investors Limited has just announced the acquisition of two retail parks.

The cost is rumored to be in the area of €15.9 million. BGP Investments confirmed the sale of its Rottenburg and Moosburg German industrial parks to INTERNOS. These two purchases are the first for the ‘Novapierre Allemagne’ fund. This is a joint venture of INTERNOS and PAREF Gestion. It is the first SCPI-structured fund to invest French capital in German retail parks. 

The Novapierre Allemagne Fund has a clear mandate to invest in the west of Germany and in micro-locations where there exist strong underlying catchment areas. Acquisitions are typically focused on retail parks with four to six units rented to familiar national retailers. The Novapierre Allemagne Fund  is aiming at an overall investment in excess of €200 million. Those with long leases in the two recently acquired retail parks are Kaufland in Moosburg and Rewe & Lidl at Rottenburg. 

Guillaume Masset, Head of Benelux and Southern Europe, when asked to comment on the recent acquisitions stated that he thinks the relatively strong German economy is tempting for investors intent on creating a high return on investments in retail parks—especially those situated in high performing areas like Rottenburg and Moosburg. He indicated that his company would also be looking for such real estate investment opportunities during the next four years.

The Novapierre Allemagne Fund is a Paris Realty SA creation. This real estate investment fund has a mandate to operate within the German commercial real estate sector. Novapierre Allemagne has partnered with Internos Global Investors in charge of the selection and management of assets. Novapierre Allemagne intends to have 100 million euros capital by 2018. The Novapierre Allemagne Fund is earmarked for both institutional and private investors. The goal is a six-percent-per-year return on investment. 


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