Hamburg, 28 September 2021 – The Hamburg-based redos Group, which focuses on large-scale retail properties, has acquired a consumer market in Hettenleidelheim near Bad Dürkheim as part of a forward deal. It was acquired by Union Investment for the special AIF “Redos Einzelhandel Deutschland II”. The property, which comprises a rental area of over 2,100 m2, is being sold by SFB Projekt GmbH & Co. KG based in Worms. The parties agreed not to disclose the purchase price.
The property is fully occupied and its main tenant, REWE, has made a long-term commitment to the site. As well as its state-of-the-art appearance and building standard, one of the new building’s special features is its silver DGNB sustainability certification. This also underscores the sustainable concept applied during construction of the building. The land itself, which measures approximately 9,400 m2, will feature 88 free parking spaces once construction is complete.
Frank Eckervogt, Managing Director Transactions at redos, said: “The acquisition of the REWE store in Hettenleidelheim secured an attractive property for our special AIF. It expands our portfolio to include a high-quality location with a tenant with a good credit standing. Its immediate proximity to a high-profile discount food retailer also creates synergies that promise additional potential. By acquiring this property, which also meets high standards in terms of its features, we have once again improved the quality of our fund.”
The store located at Wattenheimer Strasse 35 is easily accessed thanks to a direct connection to the A6 motorway. The location in Hettenleidelheim has a catchment area of around 730,000 people within a 30 minute drive.
redos received legal and tax support during the acquisition from McDermott Will & Emery Rechtsanwälte Steuerberater LLP.
The redos Group, headquartered in Hamburg, is one of the leading independent retail property specialists, focussing on the areas of investment, asset management, fund management, redevelopment, leasing and advisory business. As an investor and active asset manager, the company covers the entire value chain for large-scale retail properties – for hybrid and conventional shopping centres, retail parks and hypermarkets. redos serves all risk classes and offers every type of investment vehicle for institutional investors. In addition to acting as a co- investor, the company has excellent tenant access and extensive revitalisation expertise. redos can look back on a long track record in the field of restructuring and value optimisation. The retail property specialist currently manages a retail real estate portfolio worth around €3.6 billion at 109 locations throughout Germany. redos manages a total of more than 1.5 million m2 of rental area. With its property database ROB, the company has access to detailed information on around 18,000 retail locations throughout Germany.