Frankfurt am Main, September 26 2019

GPEP and Universal-Investment acquire portfolio of 12 retail properties for Bayerische Versorgungskammer

The asset and property manager GPEP GmbH (“GPEP”) acquired in an advisory role for the in-vestment fund managed by Universal-Investment on behalf of Bayerische Versorgungskammer (“BVK”) an off-market portfolio, consisting of 12 retail parks and supermarkets in established lo-cations, during the third quarter of the current year. A Dutch real estate fund is the seller of these properties. The parties have agreed to keep the purchase price confidential. The buyers were le-gally advised by GSK STOCKMANN, Frankfurt.

Approximately 95 per cent of the 48 rental units with rental space of about 26,700 m2 are leased out. The anchor tenants are predominantly companies affiliated with the major German food retail groups EDEKA and REWE, followed by ALDI and LIDL. The weighted average lease term (WALT) is about 7.5 years. The properties are located in Bavaria, Lower Saxony, North Rhine-Westphalia, Mecklenburg-Western Pomerania, Rhineland Palatinate and Schleswig-Holstein. The supermarkets and retail parks located in the western part of Germany, with the focus on Lower Saxony and North Rhine-Westphalia, account for 90 per cent of the rental income.

“This purchase perfectly complements our existing portfolio while at the same time enhancing our diversification, both in terms of tenant mix and the geographic spread of the properties”, said Dagmar Schuster, Head of Transaction and Investment Management at GPEP

Marcel Fuhr, Managing Director of GPEP and, among other things, responsible for acquisition as well as asset and property management, added: “The acquisition of this portfolio demonstrates that the current market environment still offers attractive investments in retail centres and retail parks. We continuously monitor the market for our investors and continue to look for suitable properties and portfolios.”

Purchase of off-market portfolio consisting of 12 retail parks and supermarkets

95 per cent of 48 rental units in established locations, with total rental space of approximately 26,700 m2, are leased out

About GPEP

GPEP GmbH specialises in the portfolio, asset and property management of special retail centres and retail parks located in Germany. Most of the anchor tenants in these properties are well-established food retailers. Independent and owner-operated, the real estate management company and its team of about 45 experts offer services along the entire value chain for institutional and private clients as well as family offices. These services range from sourcing, due diligence, business plans including scenario analyses through to purchase, administration and portfolio restructuring up to continuous portfolio optimisation and sale. Since its establishment in 2015, GPEP has created a portfolio having a volume of approximately EUR 1 billion.

GPEP offers investors a variety of investment structures, so that investors can benefit from the opportunities of sustainable real estate investments in retail centres and retail parks. For our investors, this means that they receive top-notch services from a single source, reliable ongoing yield and potential added value. To this end, we use our unique network and in-depth market knowledge to source attractive investment propositions even beyond the most popular property investment search profiles (as of 30/06/2019).

About Bayerische Versorgungskammer

Bayerische Versorgungskammer is the competence and service center for occupational and communal pension schemes and Germany´s largest pension scheme group under public law. As a public authority of the Bavarian Ministry of the Interior, it is the joint executive body of twelve liberal professions´ and communal pension schemes. Bayerische Versorgungskammer covers about 2.3 million insured persons in total, with contributions of € 4.8 billion and € 3.4 billion pension payments annually. It currently has € 77 billion assets under management and 1,315 employees (as of December 2018).

More information available at: www.versorgungskammer.de

Bernd Obergfell

Head of Communications

Phone
+49 69 71043-575

e-mail
bernd.obergfell@universal-investment.com

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