GPEP GmbH (GPEP) has acquired a portfolio with 18 food retail discounters and 17 full-range retailers on an exclusive order for a Luxembourg special fund of Bayerische Versorgungskammer.
The “Truffle” portfolio includes 35 properties nationwide with a rentable area of around 66,000sq m and generates an annual rent of almost €9M. More than 90 per cent of the space is leased to market-leading and creditworthy food retailers, including REWE, Edeka and Netto. The occupancy rate is over 99 per cent. Most of the properties were built in 2014 or the following years. The average remaining rental period (WALT) is around 10 years. The parties involved have agreed not to disclose the purchase price.
Jorn Burghardt, Managing Director of GPEP, said: “With the purchase of the Truffle portfolio, we have succeeded in acquiring one of the most attractive food retail portfolios of the year 2021 for our investor – the Bayerische Versorgungskammer – in an extremely competitive market environment. This enabled us to increase our assets under management to just under €2bn.”
Marcel Fuhr, Managing Partner of GPEP, commented: “We plan to continue our growth path in 2022 and expect investor demand for real estate in food retail trade to continue to rise.”
