- TA Europe has provided technical due diligence services to Principial Real Estate Europe, acting as asset and transaction manager on behalf of the Novapierre Allemagne 2 SCPI fund, managed by PAREF Gestion.
- The vendor of the property is a fund managed by the Hahn Group.
Essen, 8 September 2021 – The French retail investment fund SCPI Novapierre Allemagne 2, managed by PAREF Gestion, has acquired the retail park through Principal Real Estate Europe, who acts as the local transaction and asset manager in Germany. The parties have agreed not to disclose the purchase price.
TA Europe supported Principal Real Estate Europe with technical due diligence services of the building, which comprises 13,593 sqm of lettable space and is located on a 31,014 sqm site area. The scope of TA Europe’s services included a site inspection and a thorough review of the technical documents in the data room. The tenants of the building, which was built in 2008 and revitalised in 2019, include OBI, dm, AWG, Action and Dänisches Bettenlager.
Novapierre Allemagne 2 SCPI, which was launched in 2019, primarily invests in German retail warehouses, retail warehouse centres and small shopping centres and currently includes five properties, among them the Hornschuch Center in Fürth, where TA Europe was also commissioned to carry out the technical due diligence earlier this year.