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Internos acquires C&A building in Aschaffenburg for ShoppingCenterD special fund

Internos Spezialfondsgesellschaft (Internos) has acquired a retail property in Aschaffenburg, northern Bavaria, for its ShoppingCenterD fund. The vendor is the Redevco group. Both parties have agreed to keep the purchase price confidential.

The free-standing, four-storey building at Goldbacher Strasse 6, has a total lettable area of around 5,800 sq m. It is fully let on a long lease to the clothing retailer C&A Mode & Co KG. The asset is linked by a shared entrance to the adjoining City Galerie Aschaffenburg, which also belongs to the ShoppingCenterD fund portfolio.
The ShoppingCenterD fund, launched in 2005, invests in high-quality German retail property with good income and potential to enhance value. The portfolio currently comprises five properties, with a total value of around 350 million Euro. The fund has an unlimited duration. The objective of the fund is to assemble a well-balanced core portfolio of shopping centres and other retail properties, in good town and city centre locations in Germany.
Lawyers Reed Smith provided legal advice to the purchaser. CBRE PREUSS VALTEQ carried out the technical due diligence. CBRE acted as consultant and broker for the vendor.

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