Rockspring Property Investment Managers has acquired an Obi DIY store in Sinzheim near Baden-Baden, in southwest Germany. It carried out the transaction with the owner, a private investor, on behalf of a Rockspring-managed fund. According to market sources, the price of the asset was €16m. The property was constructed in 2000 and was recently modernized, which increased its value significantly. The 70,000 sqm building includes a Real hypermarket, already owned by a Rockspring-managed fund, a Takko store, a Reno shoe store and an Aldi. Previously, Rockspring acquired €150m portfolio of 9 Obi stores in Germany including the 20,000 sqm Obi flagship store in Berlin-Zehlendorf.
