The transaction was carried out as part of an asset deal. The seller is DEMOS Wohnbau GmbH, based in Munich. The parties have agreed not to disclose the purchase price or further details of the transaction. The number of properties acquired for the GRR German Retail Fund No. 4 thus rises to 46.

The food retail store is centrally located in the highly sought-after district of Perlach, Franz-Heubl-Straße 31, in the immediate vicinity of the Gartenstadt-Trudering housing estate. The rental space is 1,857 m², the anchor tenant is EDEKA Südbayern. The new building from 2023 was constructed as part of the new Alexis-Quartier, which will offer space for around 3,000 people in over 1,300 residential units once completed and will have three daycare centres and extensive green and open spaces. Around 20,000 residents live in the wider catchment area. The location is very well connected to public transport and there are also 52 car parking spaces directly at the market.

"With the acquisition of this new local retailer, we have once again succeeded in making a very attractive addition to the portfolio of our GRR German Retail Fund No. 4," says Andreas Freier, Managing Director of GRR REM. "The location of the modern full-range retailer in an up-and-coming residential area offers further growth potential, has ideal transport links and is used by a creditworthy anchor tenant who is very familiar with the requirements of the urban public for a contemporary shopping experience."

BGA Invest GmbH advised the GRR Group on the transaction and brokered it. The technical due diligence was carried out by Schuster Real Estate Consultants from Ansbach. GSK STOCKMANN provided legal and tax advice on the transaction on behalf of the buyer.

The GRR German Retail Fund No. 4 is the GRR Group's fourth open-ended special property AIF under the German Investment Code (KAGB). It is administered by the service KVG INTREAL. The planned investment volume is around 380 million euros. The fund was withdrawn from the placement ahead of schedule. The acquired equity capital totals 258 million euros and is therefore considerably higher than planned. The investment phase of the fund is expected to be completed in 2024. The focus of this special AIF is on the basic retail segment, which is characterised by long-term rental agreements, stable rental cash flows and anchor tenants with strong credit ratings in the German food retail sector. The fund was placed exclusively with institutional investors and is intended to offer a risk/return profile that meets the needs of this investor target group, particularly due to its broad, nationwide diversification.