Hahn fills Spezialfonds with four retail properties of PGIM
Hahn Group has acquired four retail properties in Aachen, Uelzen, Münsingen, and Premnitz from a special mandate managed by PGIM Real Estate. The largest of the four assets is the retail park Uhlenköper Park in Uelzen with about 16,900 sqm lettable space. Operators are Kaufland and Hagebaumarkt, apart from five other tenants. The supermarket in Aachen (Krugenhofen) with 5,800 sqm lettable space is used by Rewe as anchor tenant; the one in Premnitz in Brandendburg (Gerhart-Hauptmann-Straße) with 4,400 sqm is used by Edeka. The fourth property is a Rewe retail center with 2,500 sqm on Lichtensteinstraße in Münsingen (Baden-Württemberg). The core properties are fully leased with an average remaining lease term of about eleven years. McDermott Will & Emery advised on the purchase, which went into the open-ended Spezial-AIF “German Retail Fund II”. The fund now has 15 retail properties with a volume of roughly €240mn.
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