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Paref: two new acquisitions in Germany

( - Property management group Paref announced on Thursday that it had acquired two new retail complexes in Germany on behalf of its SCPI Novapierre Allemagne 2.

The first is the 'Nordberg Center', a recently renovated business park with a lettable area of around 5.000 m2 and includes chains such as Lidl, Netto (supermarkets) and Rossmann (drugstore).

The 'Tannenbusch Center' shopping center is located 7 km from the center of Bonn: renovated in 2017, it has a leasable area of around 13.500 m2 and houses chains such as Kaufland (hypermarket) and Action (discount).

In a press release, Paref explains that these two acquisitions will enable it to strengthen its presence in North Rhine-Westphalia, one of Europe's most dynamic economic regions.

They are also in line with Paref's strategy of focusing on "core" retail assets, a class characterized by robustness, high occupancy rates and high average residual lease terms.

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