ILG Acquires Specialist Retail Centers in Waldkraiburg and Kaiserslautern with Heuking
March, 2020 - Germany
| With a team led by Dr. Frank Baßler and Klaus Weinand-Härer, both Partners at Heuking Kühn Lüer Wojtek, ILG Capital GmbH acquired two retail centers on behalf of an institutional fund. The properties are located in Waldkraiburg and Kaiserslautern and were part of the “Silver” portfolio. The sellers are two special purpose vehicles held by a joint venture between RDI and Menora Mivtachim. The specialist retail center in Waldkraiburg comprises more than 13,100 square meters with rental space of about 5,600 square meters. Anchor tenants include Edeka, Norma, and C&A. The Kaiserslautern center features rental space of about 3,600 square meters on a total area of more than 10,400 square meters. Its anchor tenants include Penny and dm Drogerie. The transaction was brokered by JLL. ILG group intends to acquire specialist retail and neighborhood shopping centers with a volume in excess of EUR 200 million for various funds this year. The owner-managed ILG group specializes in German retail real estate. The company offers its investors and clients a fully integrated support concept for retail real estate throughout the entire life cycle. ILG manages real estate valued at over EUR 1.4 billion. Counsel to ILG group Heuking Kühn Lüer Wojtek: Dr. Frank Baßler (Lead, Real Estate), Dr. Nicole Armingeon (Public Law), Andreas Lutz (Real Estate), all Stuttgart Klaus Weinand-Härer (Lead, Tax), Adam Brockmann (Tax), both Frankfurt |
