{"id":14587,"date":"2020-02-24T15:25:29","date_gmt":"2020-02-24T14:25:29","guid":{"rendered":"https:\/\/hihinvest-gyeegbg7hxdxf8d4.a01.azurefd.net\/warburg-hih-invest-acquires-neighbourhood-retail-centre-in-kassel\/"},"modified":"2025-02-13T22:53:06","modified_gmt":"2025-02-13T21:53:06","slug":"warburg-hih-invest-acquires-neighbourhood-retail-centre-in-kassel","status":"publish","type":"post","link":"https:\/\/hih-invest.de\/en\/warburg-hih-invest-acquires-neighbourhood-retail-centre-in-kassel\/","title":{"rendered":"Warburg-HIH Invest acquires neighbourhood retail centre in Kassel"},"content":{"rendered":"<ul>\n<li>Another acquisition for open-ended local retail fund<\/li>\n<li>Around 5,400 square metres of gross lettable area are almost fully tenant-occupied<\/li>\n<li>Chance to exploit additional potential for capital appreciation through active management<\/li>\n<\/ul>\n<p><strong>Hamburg, 24. February 2020<\/strong> \u2013  Warburg-HIH Invest Real Estate (Warburg-HIH Invest) just acquired the neighbourhood retail centre located at Wittrockstrasse 3\/5 in the inner city of Kassel. The acquisition was transacted in the form of an off-market deal on behalf of \u201cWarburg-HIH Perspektive Einzelhandel: Fokus Nahversorgung,\u201d an open-ended special AIF focused on local retail centres. The acquired property is located in a good district location and highly visible from Wilhelmsh\u00f6her Allee, the street that connects the parklands of Bergpark Wilhelmsh\u00f6he with the inner city of Kassel. It has a gross lettable area of around 5,400 square metres and 117 car parking spots.<\/p>\n<p>The entire building is almost fully occupied. It is anchored by a Rewe food market that occupies more than 50 percent of the lettable area. Other major tenants include an Aldi discount supermarket and a Rossmann drugstore. The average remaining lease term among the property\u2019s tenants is currently around nine years. <\/p>\n<p> Originally built in 1972, the neighbourhood retail centre was redeveloped and topped up in 2003. In 2019, comprehensive upkeep works were carried out in the section occupied by Rewe and the forecourt parking outside Rewe.  <\/p>\n<p> \u201cBy acquiring the neighbourhood retail centre in Kassel we brought the portfolio of our fund up to twelve properties or c. EUR 238 million in real estate assets now,\u201d said Thomas Christ, Senior Fund Manager at Warburg-HIH Invest. \u201cKey arguments in favour of buying this property included the outstanding location and transportation access, the sound tenant structure and the existing capital appreciation potential.\u201d HansJoachim Lehmann, Managing Director of Warburg-HIH Invest, elaborated: \u201cThe acquisition is helping us not only to boost the profitability of our local retail investment fund but are also to further diversify the regional spread of its portfolio and its tenant structure.\u201d <\/p>\n<blockquote  class=\"blockquote\"><p> <em> \u201cBy acquiring the neighbourhood retail centre in Kassel we brought the portfolio of our fund up to twelve properties or c. EUR 238 million in real estate assets now. Key arguments in favour of buying this property included the outstanding location and transportation access, the sound tenant structure and the existing capital appreciation potential.\u201d  <\/em> <\/p>\n<p><strong>Thomas Christ, Senior Fund Manager<br \/> Warburg-HIH Invest<\/strong><\/p>\n<p>  <em>\u201cThe acquisition is helping us not only to boost the profitability of our local retail investment fund but are also to further diversify the regional spread of its portfolio and its tenant structure.\u201d <\/em> <\/p>\n<p><strong>Hans-Joachim Lehmann, Managing Director<br \/> Warburg-HIH Invest<\/strong><\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Another acquisition for open-ended local retail fund Around 5,400 square metres of gross lettable area are almost fully tenant-occupied Chance 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