Internos acquires local shopping centre in Berlin-Lichterfelde for SCPI NovaPierre Allemagne Fund

Internos Global Investors (Internos), acting as transaction and asset manager of the French SCPI NovaPierre Allemagne fund, has acquired LIO, a local shopping centre in Berlin-Lichterfelde.

The vendor is a fund managed by LaSalle Investment Management. The purchase price has not been disclosed.
 
The retail property occupies an approximately 13,100 sq m site at Lankwitzer Strasse 19, Berlin-Lichterfelde, which was constructed in 2006 and extensively refurbished in 2013. The property has a total lettable area of around 12,600 sq m, two thirds of which is retail accommodation, while the remainder is occupied by a gym. LIO also has around 300 parking spaces.
 
The property is virtually fully let, with the major tenants including REWE, ALDI and C&A.
 
BNP Paribas Real Estate was instructed to market the property. DLA Piper provided legal advice for the purchaser, while Simmons & Simmons acted on behalf of the vendor. CBRE PREUSS VALTEQ advised the purchaser on technical issues.
 
By the end of 2017, the SCPI NovaPierre Allemagne Fund aims to achieve a volume of about 300 million Euro, to be invested primarily in retail warehouses, retail warehouse centres and small shopping centres. The focus is on properties with a value between 5 to 40 million Euros, preferably with leases having unexpired terms of six to eight years.