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Press Releases 2018

Principal Real Estate Europe, acting for PAREF GESTION, acquires two retail warehouses in Germany

NEWS, ASSET ACQUISITION, PRESS RELEASE, 2018

PRESS RELEASE

This press release has been written for informational purposes only and should not be considered as investment advice or as a recommendation of any particular security, strategy or investment product.

25 September 2018

Principal Real Estate Europe, acting for PAREF GESTION, acquires two retail warehouses in Germany

Principal Real Estate Europe, acting as asset and transaction manager for PAREF GESTION, fund manager of the SCPI NOVAPIERRE ALLEMAGNE fund, has purchased two retail warehouses in Germany.

In Prisdorf, south-west Schleswig-Holstein, it has acquired a fully-let 20,000 sqm retail warehouse with a weighted average unexpired lease term (WAULT) of 9.5 years from a private investor. Built in 2003, the asset is anchored by the food retailer Marktkauf and includes 570 car parking spaces.

In Stockstadt am Main, near Aschaffenburg in northern Bavaria, it has acquired a fully-let 6,100 sqm retail warehouse, which is let to nine tenants on a WAULT of seven years. Occupiers include food retailers Tegut and Aldi Süd. Located on a 25,000 sqm site at the junction of Taunusstrasse 5-7 and Industriestrasse 6, the warehouse was built in 2008 with excellent access to the B26 arterial road and includes 340 car parking spaces.

For the Prisdorf acquisition, Principal Real Estate Europe was advised by DLA Piper and TA Europe while the vendor was advised by BNP Paribas Real Estate and HanseReal Immobilienberatung.

Stockstadt was an off-market transaction in which the Frankfurt office of the NAI Apollo group acted as consultant to the Principal Real Estate Europe and Curtis Mallet-Prevost Colt & Mosle LLP law practice provided legal advice.

Ends

Company contact for further information:

Paul Muno, Head of Germany, Principal Real Estate GmbH

T
muno.paul@principalreeurope.com
www.principalreeurope.com

Press contact for further information:

Targa Communications GmbH

Arne Degener

Email: ad@targacommunications.de

Principal Real Estate Europe

Principal Real Estate Europe is part of Principal Financial Group’s dedicated real estate business, Principal Real Estate Investors, which manages or sub-advises $82 billion1 in real estate assets globally.

The group’s real estate capabilities cover all four quadrants encompassing public and private, equity and debt investment solutions.

In Europe, Principal Real Estate Europe operates from offices in London, Frankfurt, Amsterdam, Paris, Lisbon, Luxembourg, Madrid and Milan, employing more than 100 staff who manage real estate across all asset classes in nine different countries.

Principal Real Estate Europe was formerly known as INTERNOS Global Investors, which was set up 10 years ago by Jos Short and Andrew Thornton, who continue to lead the business.

Principal Global Investors
Principal Global Investors2 is a diversified asset management organization and a member of the Principal Financial Group®, with expertise in equities, fixed income and real estate investments, as well as specialized overlay and advisory services. Principal Global Investors manages $430 billion in assets primarily for retirement plans and other institutional clients.

1As of June 30, 2018. AUM figure does not include Principal Real Estate Europe.

2Principal Global Investors leads global asset management at Principal® and includes the asset management operations of the following members of Principal®: Principal Global Investors, LLC; Principal Real Estate Investors, LLC; Principal Enterprise Capital, LLC; Spectrum Asset Management, Inc.; Post Advisory Group, LLC; Columbus Circle Investors; Morley Capital Management Inc.; Finisterre Capital, LLP; Origin Asset Management, LLP; Principal Global Investors (Europe) Limited; Principal Global Investors (Singapore) Ltd.; Principal Global Investors (Australia) Ltd.; Principal Global Investors (Japan) Ltd.; Principal Global Investors (Hong Kong) Ltd., and include assets where we provide model portfolios. Marketing assets under management include certain assets that are managed by Principal International and Retirement and Income Solutions divisions of Principal.

Paref Gestion
Paref Gestion is a French leader in real estate investment and fund management, regulated by AMF. It creates and manages SCPIs and OPPCIs (funds in offices, retail, residential and leisure real estate buildings).

Paref Gestion is a subsidiary of PAREF, listed on the Euronext Paris Stock Exchange.

As at 30 June 2018, Paref Gestion is managing more than €1.5 billion

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