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Press Releases 2018
INTERNOS acquires retail warehouse centre for SCPI NOVAPIERRE Allemagne Fund
Frankfurt am Main, 27 February 2018 – INTERNOS Global Investors (INTERNOS), a pan-European real estate fund manager with 2.75bn Euro invested in real estate and 875 m Euro of firepower to invest in 2018, acting in its role as asset and transaction manger, has purchased a retail warehouse centre in Germany on behalf of the SCPI NOVAPIERE Allemagne Fund, which is managed by PAREF Gestion.
The vendor, made up of several investors, held the property in partial ownership. The purchase price has not been disclosed.
The retail warehouse has a total lettable area of 24,300 sq m and generates annual rental income of approximately 1.9 million Euro. The property is situated on Voccartstrasse in Herzogenrath and is fully let with a weighted average unexpired lease term (WAULT) of eight years. The tenants include Rewe, Media Markt, Roller and Deichmann.
Dentons provided legal advice to the purchaser. ChandlerKBS carried out the technical due diligence. Orth Kluth provided legal advice to the vendor.
The SCPI NOVAPIERRE Allemagne Fund now comprises 37 properties, with a total value of around 300 million Euro. They principally comprise retail warehouses, retail warehouse centres and small shopping centres. The fund focuses on properties anchored by food retailers, with lot sizes between 5-50 million Euro and leases with six to eight years remaining.
Company contact for further information:
Paul H. Muno
INTERNOS Global Investors Kapitalverwaltungsgesellschaft mbH
T +49 69 50 50 66 9 30
Press contact for further information:
Targa Communications GmbH
Tel: +49 69 153 24 21-0
Notes to Editors:
INTERNOS Global Investors (www.internosglobal.com)
INTERNOS Global Investors is a pan-European fund and asset management platform, specialising in real estate. The company develops strategic investment and management solutions for institutional investors in all property asset classes across Europe. Principal Global Investors (PGI), which leads global asset management at Principal®, and INTERNOS Global Investors announced in November 2017 that PGI will acquire INTERNOS, with completion subject to regulatory approvals. As part of PGI’s multi-boutique operating model, INTERNOS will retain its investment and management independence, while gaining access to the resources and scale of a major financial institution. Principal is one of the largest investment managers in the world with $655.5 billion* in assets under management, of which $74.9 billion** is invested in real estate through either debt or equity (www.principalglobal.com).
* As of September 30, 2017
**As of September 30, 2017