Rockspring Property Investment Managers has acquired Helvetia Parc, a 30,000 sqm retail park in Groß-Gerau. The asset is located approximately 30 km from Frankfurt. Rockspring purchased the center on behalf of TransEuropean Property V in a transaction valued at €41.65m. Helvetia Parc was built in 2008 and is anchored by a Toom DIY store along with Rewe, Medimax electronics, Aldi, Deichmann, dm-drogerie and Takko.
“This core-plus property offers us an excellent, secure cash flow opportunity, as well as attractive asset management potential to grow rents through the letting of vacant units and the improvement of the tenant mix. We are confident that, with our experience and expertise, we will be able to exceed the financial targets we have set and can maximize the potential of Helvetia Parc,” said Ulf Christiansen, head of acquisitions for Rockspring in Germany.
