Principal acquires Chiemsee-area “TraunPassage” from Meag


Principal Real Estate Europe has acquired the “TraunPassage” in Traunreut, Upper Bavaria, on behalf of the SCPI Novapierre Allemagne Fund, managed by Paref Gestion. The seller is Meag. The seller was advised by JLL; the buyer was advised in legal matters by DLA Piper. The “TraunPassage” is a neighborhood retail center located about 10 km east of Lake Chiemsee. It has around 13,550 sqm of lettable space. The property, built in 1995 and modernised in 2015, is currently 95% let with a WALT of 8.3 years. Its anchor tenants are Rewe, Müller, C&A and Adler.

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