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TH Real Estate expands retail warehouse portfolio with new asset in Germany
TH Real Estate has acquired a new retail warehouse in the south of Germany on behalf of a retail mandate managed for a German institutional investor.
The asset was sold by a local project developer, ACTIV-Group, for an undisclosed sum.
The retail warehouse, known in the region as ACTIV Arkaden was built in 2017. Totalling 64,580 sq ft (6,000 sq m) of lettable space, ACTIV Arkaden is anchored by food retailer Rewe and drugstore Mueller, and offers an attractive brand mix including Deichmann, Ernsting and Vögele.
The retail warehouse can be reached within walking distance from the city centre of Horb am Neckar. Located 60 kilometres in the south of the city of Stuttgart, the nearby central train station ensures excellent connectivity to the southern region.
Marcus Mack, Fund Manager at TH Real Estate, says "ACTIV Arkaden benefits from a strong local catchment and an attractive brand mix, as well as high demand for retail space in the area. We are very pleased to announce the acquisition of this sustainable, forward-looking asset, which strengthens the portfolio."
TH Real Estate was advised by BLANK Real Estate from Frankfurt.
TH Real Estate has launched three retail warehouse and hybrid mall funds in Germany since 2009. On behalf of the different funds, TH Real Estate manages a €1.2 billion portfolio of 35 assets.