2008-04-23

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Germany | Funds Companies Investments Retail

GPTHALVERTON ACQUIRES RETAIL PROPERTY IN RHINELAND-PALATINATE

Rheinland-Pfalz: GPT Halverton has acquired a retail property in Rhineland-Palatinate for the GRP Fund at a cost of € 6.9 million.

The property is located in Germersheim opposite a Real Hypermarket and has a lettable area of around 5,100 sq m. The main tenants include textiles retailers Takko and Charles Vögele, footwear retailer Deichmann, leading drugstore retailer DM-Drogerie, and furniture retailer, Danisches Bettenlager. Germersheim is situated between Mannheim and Karlsruhe.

About the GRP Fund

GRP, the German Retail Partnership, is a specific fund focussing on higher-yielding predominantly food-anchored retail properties in regional locations across Germany. The Fund targets assets which have short term value enhancement potential through active asset management.

Lot sizes range from €2 million to €20 million and the assets feature anchor tenants from a selection of Germany’s largest retailers including Rewe, Edeka, Aldi, Norma, Netto and Penny.

Jochen Goetzelmann GPT Halverton - 2008-04-23

Announcement by GPT Halverton. The originator takes responsibility for its content.