TH Real Estate has acquired a retail warehouse park in the German city of Ludwigshafen on behalf of its Core German Retail Fund.
The retail asset, which serves the Rhine-Neckar metro region, was sold by developer INWO Bau.
Bilfinger Real Estate will manage the property.
TH Real Estate in 2014, structured as a Spezialfonds for German institutions. It invests in retail warehouse parks, superstores, hybrid malls and high street shopping centres.
The retail warehouse park, which opened for business in April, brings the fund鈥檚 assets to six.
Thilo Wagner, director of investment for Germany at , said: 鈥淭his asset is a complementary addition to the existing fund portfolio, with sound fundamentals and strong tenant base.鈥�
The asset has a gross lettable area of 12,300sqm spread across two buildings with nearly 400 parking spaces. It is anchored by food retailer REWE.
