Holland Immo offloads €87m German grocery assets at a premium

Holland Immo Group, a Dutch provider of closed-end real estate investment funds for Dutch private investors, family offices and institutional investors, has sold the retail portfolios of four of its German investment funds for €87 mln to investment manager GPEP, acting on behalf of a German institutional investor.

The purchase price reflects ‘an interesting premium’ due to the large size of the portfolio and the quality of the assets, the vendor said in a statement.

The four funds bought the properties in the years 2013-2015 from Ten Brinke Group. They consist of 10 inner-city grocery stores spread over various West German states and Berlin.

Holland Immo Group, which remains active in the German Fachmarkt segment with other five German retail funds, may look into further asset sales to take advantage of rising values in the sector.

Events

Latest news

Best read stories