Stuttgart, February 28, 2023 – The real estate manager and specialist for regulated alternative investment funds, AIF Capital, has acquired a construction market in Alsdorf near Aachen for two closed-end public AIFs. The seller is a project company of the Ten Brinke Group. The property is leased to the Toom builders’ merchant chain for a minimum of 15 years from September 2023. The parties have agreed not to disclose the purchase price.
The property, which was acquired in an asset deal, will meet the KfW 40 EE energy efficiency standard and has a rental area of around 11,800 m² . The associated property with an area of approximately 22,160 m² is located at the corner of Linnicher Straße/Am Rosenkränzchen. In addition to the main building, the property is rounded off by a garden center and further sales areas outside. The hardware store chain Toom, which belongs to the REWE Group, has secured extension options of three times five years for the property beyond the 15-year fixed term.
A REWE full-range store is being built – also by Ten Brinke – on the almost 14,300 m² neighboring plot, which has been separated by real division and will help to increase footfall at the location. By means of corresponding easement agreements, REWE and Toom will share the use of the total of 260 ground-level parking spaces. Completion of construction for the full-range store is scheduled for the second quarter of this year.
Dr. Sven O. Eggers, CEO of AIF Partner KVG, says: “The purchase in Alsdorf meets all criteria for AIF Capital’s investment strategy. A new, modern construction market with a high energy efficiency standard located close to the city center will be welcomed by the residents. The property is easily accessible for residents as well as commuters due to the directly adjacent federal highway and, together with the REWE store, fulfills an essential local supply function. The long lease term also shows that the location is seen as attractive in the long term by the tenant as well.”
Alsdorf is located north of Aachen in the immediate vicinity of the border triangle between Germany, the Netherlands and Belgium and has a population of around 47,330. The property is located just under 2 km north of Alsdorf’s city center and benefits from direct access to the B57 federal highway, which leads towards the city center and is the main connection to the surrounding towns.
AIF Capital Group was advised by GSK Stockmann on tax and legal aspects of the acquisition. The technical due diligence was carried out by alea real. The transaction process was accompanied by the Frankfurt-based asset manager PIER Investment Partner, which will manage the property after completion.
In addition to investments in the retail sector, 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 as well as 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 around 50 people and currently manages assets (AUM) worth around € 1.3 Billion.
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