Stuttgart, July 14th, 2022 – AIF Capital Group, a specialist in regulated alternative investment funds, has made two further purchases. One of the Stuttgart-based vehicle has acquired two properties in the basic retail sector in Ascheberg and Lemgo, bringing its current total holdings to 11 properties. For several of its funds, AIF Capital invests primarily in commercial properties in the food retail sector and drugstores and, together with the two acquisitions, currently manages more than EUR 200 million in real estate assets in this segment.
The property in Ascheberg is a new development for a full-range retailer with a total leasable area of around 2,500 m2, of which approx. 1,700 m2 is retail space for the grocery store and a bakery. The property at Lüdinghauser Strasse 9-11 is being acquired on a turnkey basis and has a site area of around 7,100 m2. There is a long-term lease with the HIT retail group. The property is centrally located in Ascheberg and, together with the other local shopping facilities in the immediate vicinity, represents an important supply location for the town of around 15,000 inhabitants in the south of the district of Coesfeld in North Rhine-Westphalia. The property also includes 108 outdoor parking spaces.
In Lemgo, AIF Capital has secured a projected grocery store and a drugstore for the Basic Retail fund. In a central location in the Lemgo district of Brake, the retail property with a total leasable area of around 2,700 m2 and the drugstore with a total leasable area of around 750 m2 will be built in two construction phases on a site area of around 9,600 m2. The full-range grocery store is scheduled for completion in the third quarter of 2022, while the drugstore is due for completion in early 2025. The rental space has already been leased to Edeka and DM on a long-term basis. The Lemgoer Straße property has 110 above-ground car parking spaces and 28 bicycle parking spaces. The city of Lemgo is located in the district of Lippe in North Rhine-Westphalia and has a population of around 42,000.
The two properties in Ascheberg and Lemgo are being developed by Aston Ten Brinke. AIF Capital was advised by GSK Stockmann on tax and legal aspects of the purchases. CBRE (Ascheberg) and Alea real (Lemgo) were responsible for the technical due diligence for the properties. Pier GmbH from Frankfurt am Main has been commissioned as asset manager.
Tim Lerner, Head of Portfolio Management at AIF Capital Group, says: “AIF Capital Group always focuses on the future viability of the assets in its investment decisions across all segments. Investments in daily needs retail properties, such as full-line grocery stores and drug stores, represent stable and crisis-resistant cash flows over the long term. With the Basic Retail segment, we focus on the growing needs of cities with a positive development forecast and thus contribute to a good supply situation for the people in the respective catchment area.”
In addition to its investments in Basic Retail, AIF Capital Group is also active in the promising areas of healthcare and social real estate, mixed-use living quarters with a focus on residential, parking garages and underground garages, and daycare centers. With the recently established AIF Infrastructure, the Group has also expanded its investment and product range to include sustainable and digital infrastructure assets such as onshore wind farms.
About AIF Capital Group
AIF Capital Group is a real estate manager and specialist in regulated alternative investment funds for institutional investors. As investor, trustee, KVG with BaFin license and asset manager, the company offers investors high-yield and sustainable real estate investments. The company is a member of the ECORE and ICG sustainability initiatives and is a signatory of the UN PRI. The group of companies was founded in 2006 in the private bank Ellwanger & Geiger and was fully acquired in 2017 as part of a management buyout. The company pursues the goal of making classic real estate asset management innovative and dynamic, while offering a high quality of service. The group employs 43 people, has equity of 5.6 million euros and currently manages assets (AUM) worth around € 1 Billion.
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