DEGI invests 40 million euros for DEGI GERMAN BUSINESS

DEGI’s latest investment: specialist retailing centre in Andernach Part of the Aberdeen Property Investors Group, DEGI today announced the signing of a purchase agreement for the “Andernach Shopping World”, involving a total investment of around 40 million euros. The directly purchased property will be added to the DEGI GERMAN BUSINESS property fund, which focuses on commercial properties in Germany.

The Andernach Shopping Word is prominently situated at the main arterial road of the centrally located Rhineland-Palatinate town. The retail centre comprises three separate buildings, constructed between 1998 and 2007. The three excel in terms of high flexibility among a total of 39 retail units and has been let to prestigious retail chains.

The Retail Park possesses a total renting space of around 24,700 m². Some 940 parking slots are provided on the approx. 67,000 m² site. The retail centre has been let in its entirety. The principal and anchor tenants are Kaufland, Lidl and Plus. Thanks to its city-centre location, a well-planned tenant mix and excellent transportation links, the Andernach Shopping World is very well frequented.

With this new acquisition, DEGI GERMAN BUSINESS has expanded its portfolio to 20 commercially utilised properties. The funding for the investment was raised immediately prior to purchase using a cash call from various institutional investors.

Launched in 2006, the fund now owns a portfolio worth approximately 400 million euros.

Source : Degi