Saturday, 15 March 2025
HIH Invest Real Estate (HIH Invest) has finalized the sale of a retail park in Ronnenberg, near Hannover, to the 15th special fund of institutional investor Deutsche EuroShop. The transaction marks a strategic divestment for HIH Invest, capitalizing on improving market conditions and sustained investor interest in core and core+ retail assets.
The retail park, built in 2011, encompasses approximately 8,200 square metres of leasable space and 337 parking spots. The fully let property has a diversified tenant mix, anchored by an E-Center operated by EDEKA-MIHA, which occupies around 4,850 square metres. Other prominent tenants include Rossmann, Apollo Optik, Ernsting’s Family, and the city of Ronnenberg’s community centre. The weighted average unexpired lease term (WAULT) exceeds six years.
“Since the start of the year, we’ve seen growing investor demand for core and core+ retail parks, signaling that the price correction phase is largely behind us,” said Jens Nagelsmeier, Head of Transaction Management Retail & Healthcare at HIH Invest. “With an improving market environment and a highly rated buyer, we achieved an excellent sales outcome for our investors.”
David Sanders, Head of Fund Management/Multi-Manager Business at HIH Invest, emphasized the strategic timing of the sale. “This transaction allowed us to streamline the portfolio at an opportune moment. Our investors have benefited from an above-average return on this asset over the past years,” he noted.
Situated in the Hannover region, the retail park boasts a prime location with convenient access to underground and suburban railway networks. The area’s strong purchasing power enhances the property’s appeal, while its sustainability credentials further strengthen its investment case. The asset features an operational photovoltaic system installed since its completion, newly added fast-charging stations for electric vehicles in 2024, partial integration with the district heating network, and predominantly LED lighting.
Baker Tilly provided legal and tax advisory services for the transaction, while Enviro Sustain handled technical due diligence. BNP Paribas Real Estate managed the marketing process.
