Garbe acquires retail park near Bonn for real estate fund

GARBE Institutional Capital, acting as fund manager, acquired a retail park near Bonn, Germany, for its ENGA Handelsimmobilien-fonds Nr. 1 fund.

The property was acquired for an undisclosed price from Leverkusen-based developer RN Beteiligungs.

The 4,700 m2 property at Metternicher Weg 1-7 in the town of Swisttal-Heimerzheim (NRW) is full let with a weighted average unexpired lease of 13 years.

It features well-established tenants with strong creditworthiness, including Aldi Süd, Netto, dm, and KiK, all with long-term leases.

Completed in Q4 2022, the building is energy-efficient, meeting the KfW 55 EE standard and utilizing rooftop solar panels.

Harun Attar, senior investment manager at GARBE Institutional Capital, said: ‘With this transaction we have secured yet another attractive asset on behalf of our investing clients. We are taking the next step as we expand and strengthen our investment platform for food-anchored retail real estate, thereby living up to our claim to market leadership and innovation leadership within this asset class in Germany.’

The retail park is strategically located near the A-61 motorway, roughly 30 minutes by car to the west of Bonn, and benefits from convenient access and ample parking.

GARBE Institutional Capital was advised by Rotthege (legal and tax due diligence) and by Schuster Real Estate Consulting (technical due diligence), with GBV Immobilien acting as the broker.

This acquisition expands the ENGA fund's exposure to attractive retail properties in growing areas near major cities.

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