GÖRG advises PAREF Gestion on sale of Stade retail park to Saller Group near Hamburg

GÖRG Partnerschaft von Rechtsanwälten mbB advised PAREF Gestion on the sale of a retail park in Stade to Saller Group. The transaction concerned a retail park located in Stade, near Hamburg. The retail park, with a rental area of 4,400 sq m, was sold by PAREF Prima, a French SCPI managed by PAREF Gestion, to Saller Group. The buyer acquired the fully leased property for its own portfolio. The site comprises rental space of more than 13,000 sq m and is anchored by tenants Media Markt and SIEMES Schuhcenter Stade. The park benefits from excellent accessibility via a federal highway, offers around 180 parking spaces and is located in an area designated as a special zone for large-scale retail. With this acquisition, Saller Group has expanded its portfolio in Lower Saxony to 20 properties. PAREF Gestion is a subsidiary of the PAREF Group and a longstanding real estate asset manager specialising in third-party investments in France and across Europe for more than 30 years. The SCPI PAREF Prima principally invests in essential retail commercial properties in Germany. To support its activities on the German market, PAREF Gestion engages Principal Asset Management as asset manager. Principal Asset Management is the investment management division of Principal Financial Group, established in 1994, with expert teams serving clients in around 80 markets and more than 30 offices worldwide, in addition to its headquarters in Iowa, USA. GÖRG Partnerschaft von Rechtsanwälten mbB represented PAREF Gestion with a team composed by: Dr Dennis Hog, FRICS (Lead, Partner, Real Estate Law, Frankfurt am Main); Dr Nicolas Lang (Senior Associate, Real Estate Law, Frankfurt am Main); Dr Lukas Maximilian Lehrhuber (Senior Associate, Tax Law, Munich).

GÖRG advises PAREF Gestion on sale of Stade retail park to Saller Group near Hamburg

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