Noerr advises Goldtree Group on sale of three retail properties from a portfolio to HIH Invest

With a team led mainly by Manuel Lomb, Noerr has advised Goldtree on the sale of three retail properties from one of its portfolios to HIH Invest in an asset deal. The sale of the “Oyster portfolio” was implemented on behalf of the open-ended special AIF “Perspektive Einzelhandel: Fokus Nahversorgung”. The fund, which is still in the investment phase, invests in specialist retail parks and local shopping centres where more than 80 per cent of space is used for retail purposes. They are located at economically stable German sites and have values ranging from ten to 40 million euros.

The three properties cover an area of almost 27,000 m² and are let for an average of just under ten years. The largest property is the “LudwigArkaden”, comprising 14,564 m² of rental space in the town of Ludwigsfelde near Berlin.

The three properties in the portfolio are fully let. Given a WAULT of almost 10 years over the portfolio, the properties provide long-term cash flow security. While the locations are broadly diversified across three German states, the properties have a few things in common: they were all built between 2016 and 2019 and thus are almost as good as new, in an outstanding structural and visual condition and have excellent transport links, being located on main traffic routes.

The Gold Tree Group is an international investment company specialising in fixed-income real estate in Switzerland and Germany. Gold Tree invests in commercial, retail and logistics properties.

Advisors to Goldtree Group: Noerr Partnerschaftsgesellschaft mbB

Team lead: Manuel Lomb (associated partner, Real Estate Investment), Annette Pospich (partner, Real Estate Investment, both Munich)

Private Equity
Manuel Weiß (senior associate, Munich)

Real Estate Investment
Henrik Dornscheidt (associated partner, Dusseldorf), Anja Bagung, Isabell Wunder (senior associates, both Munich), Fabienne Wendik (associate, Dusseldorf)

Tax
Martin Haisch (partner, Frankfurt)