German fund manager Real IS announced that its BGV IV spezialfonds has acquired the Saarbasar retail property in Saarbrücken, Germany from a Luxembourg fund managed by Natixis Capital Partners.

The 36,000-m2 property is occupied by Real, MediaMarkt, C&A, Aldi and H&M. The property is fully let long term to METRO Asset Management Services under a general tenancy agreement. The financing partner for the long-term external financing of around EUR 30 mln is SEB.

Properties in Hamburg and Rotterdam have already been acquired for the real estate portfolio, and the current investment volume of BGV IV comes to around
EUR 190 million. BGV IV is the first special real estate fund of Real IS KAG, a company belonging to the Real I.S. Group. The fund was launched in 2010 and has assets of approximately EUR 380 mln under management. The fund's target volume has been set at around EUR 700 mln.