Hahn Gruppe acquires six Edeka supermarkets

Germany’s Hahn Gruppe has purchased six Edeka supermarkets across Bavaria, Baden-Württemberg, Saxony, and Thuringia for a new institutional fund. 

Boxberg - Hahn Gruppe

The properties, sold by Edeka Northern Bavaria-Saxony-Thuringia, total approximately 14,400 m2 of leasable space and include over 570 parking spots.
These modern supermarkets, built between 2015 and 2019, are all fully leased to Edeka for an average of over 14 years. 
They are well-established supermarkets located in Amberg and Wassertrüdingen (Bavaria), Boxberg (Baden-Württemberg), Chemnitz and Gersdorf (Saxony), and Königsee (Thuringia). All locations are easily accessible and in excellent technical and energy-efficient condition. 
The acquisition is expected to be finalised by the end of the year, with the purchase price remaining undisclosed.
Thomas Kuhlmann, CEO of Hahn Gruppe, explained: “With their clear focus on groceries, these retail properties make a significant contribution to local supply. Thanks to established locations, long-term leases with the financially sound anchor tenant Edeka, and the stores’ strong competitive position, we anticipate high value retention for this investment.”
Christoph Horbach, member of the Management Board of Hahn Gruppe, added: "This portfolio investment is the first acquisition for a new individual fund that we launched in October for several German pension funds. The institutional fund invests throughout Germany with a clear focus on convenience stores. We are aiming for an equity volume of over €100 mln with a target volume of around €200 mln. We plan to rapidly expand the portfolio further – particularly with supermarkets, discount grocery stores, and hypermarkets."
McDermott Will & Schulte advised Hahn Gruppe, while Edeka received advice from GrothmannGeiser. 
Technical due diligence was conducted by imtargis, while the transaction was brokered by JenAcon.