10 May Drehscheibe Homberg joins Greenman OPEN’s operational portfolio
The new food dominated retail hybrid Centre in Homberg (Efze) which was acquired by Greenman OPEN (OPEN) last year, is now fully operational with OPEN collecting its first month’s rent from 1st April 2021.
The developer and seller Schoofs Immobilien has successfully handed over the centre to the grocery focused investment fund. The centre is located in the city centre of Homberg, an attractive town in northern Hesse, and was opened in December 2020. The property has a total lettable area of 12,172 sqm and a combined weighted average remaining lease term (WARLT) of circa 13 years. It is anchored by food retailers REWE and ALDI and has more than 20 tenants in total.
The centre is a high-traffic retail property in the immediate vicinity of the old town of Homberg, which offers space to larger retail partners that can’t be accommodated elsewhere in the city. The tenant mix allows customers to purchase groceries and drugstore goods under one roof with additional attractive retail offers from the textile, shoe and accessories product ranges attracting customers from an extended catchment area, bringing footfall to the inner city.
Located directly next to the main high school, it is considered the best located retail centre in Homberg and evidence of this is demonstrated by REWE’s decision to remain at the location and ALDI’s decision to relocate its store to the new centre.
The modern hybrid centre is an excellent addition to the existing portfolio and strengthens the partnership between one of the leading developers of grocery-anchored district centres and retail parks in Germany, Schoofs Immobilien and Germany’s largest food-retail focused real estate fund on the market.
James McEvoy, Head of Acquisitions at Greenman, comments on the deal closing: “We are very pleased to close our first deal with Schoofs. The Drehscheibe Homberg is an exceptional Centre that has been developed and delivered to the highest quality and we are delighted to finally take it over.”
Photo Credit: Schoofs Immobilien GmbH Frankfurt, David Vasicek