Bergisch Gladbach, January 18, 2022 – Hahn Group, in its role as a strategic partner for the acquisition and asset management of retail parks, has accompanied the acquisition of Krohnstieg Center by a special fund affiliated with Ampega Investment GmbH. The seller of the property is Hamburg-based HBB, which has extensively remodeled and restructured the property in recent years. Technical due diligence of the purchaser was carried out by Drees & Sommer. KUCERA Rechtsanwälte was responsible for legal advice to the purchaser. The seller was legally advised by the law firm ZENK. iMallinvest Europe GmbH acted as transaction advisor to the seller. The transfer of the property took place on 31.12.2021. The parties agreed not to disclose the purchase price.
Long-established district center in high-growth metropolis
Located in Hamburg’s Langenhorn district at Krohnstieg 41-43, Krohnstieg Center has a well-diversified tenant mix across approximately 17,100 sqm of leasable space that includes retail, service, office, medical office and restaurant sectors. The main tenants are an EDEKA supermarket, the sporting goods supplier Decathlon and a Budnikowsky drugstore. The weighted average remaining lease term (WAULT) is around 8 years.
The property has around 420 parking spaces and excellent links to private and public transport.
The property, which was built in 2004, consists of three building sections and was extensively revitalized by HBB from 2019 to 2021: When the lease of the former hypermarket tenant Marktkauf expired, HBB had realigned the center. Since then, EDEKA has been operating a modern hypermarket in a reduced area and Decathlon has been added as a new tenant. Other existing tenants have been relocated, areas have been modernized and reallocated. The former moving walkway that connected the first floor to the 1st floor has been completely removed. Instead, HBB has created an open and spacious atrium and improved access to the basement.
The remodeling work took place during ongoing operations.
Following the revitalization, the Krohnstieg Center local shopping center presents itself with a new exterior façade and has tenants with strong credit ratings. The broad, future-oriented orientation is based on the structures and requirements of the catchment area. HBB Centermanagement GmbH & Co. KG will continue to be responsible for the center
and property management for the property.
Ampega and Hahn Group build up retail property portfolio
Ampega Investment Management GmbH and Hahn Group announced in May 2021 a strategic cooperation for the coming years. Ampega plans to acquire retail properties as part of this cooperation. The portfolio build-up has now begun with the acquisition of the Krohnstieg Center. The Hahn Group’s mandate includes the search for and appraisal of properties as part of the retail portfolio build-up, as well as the development and implementation of asset management strategies to optimize the retail portfolio. Nationwide, we are looking for core retail parks with full-range grocery stores as anchor tenants with an individual investment volume of € 15 million or more in sustainable locations with a population
locations with a population of 50,000 or more. DIY and pure non-food stores do not fit the profile.
The Hahn Group
The Hahn Group has been active as an asset and investment manager since 1982. It specializes in utility-oriented retail and mixed-use properties. In its corporate history, Hahn Group has successfully launched over 190 real estate funds. Its current assets under management exceed 3 billion euros. With its capital management company DeWert Deutsche Wertinvestment GmbH and its comprehensive expertise in real estate and asset management, the Hahn Group has a unique position in its market segment among private, semi-professional and professional investors. It manages and controls the entire value chain of the real estate properties it manages at over 140 locations.
That is value work with real estate.
The Ampega companies are the asset managers of the Talanx Group. Ampega Asset Management GmbH also manages the real estate asset class at the operational and strategic level for the companies of the Talanx Group and optimizes their value enhancement. The companies are responsible for and manage capital and real estate investments amounting to around
€ 173 billion (as at 30.09.2021). Talanx is one of the major European insurance groups in terms of premium income.
The HBB group of companies, headquartered in Hamburg, has been active in the real estate industry as an investor and project developer for over 50 years. Retail, office, hotel, senior citizen and residential properties have been built throughout Germany. HBB sees itself as a specialized investor with the aim of creating successful long-term value. HBB is an owner-managed company and has a well-trained team of now over 100 employees. HBB Centermanagement GmbH & Co. KG manages other shopping centers in Dresden, Gummersbach, Hamburg, Hanau, Ingelheim, Langenhagen, Leipzig, Munich, Essen, Weiden and Wittenberg, among others.
51429 Bergisch Gladbach
Telefon: +49 (2204) 9490-118
Ampega Investment GmbH:
Telefon: +49 (221) 790799-624
HBB Hanseatische Betreuungs- und Beteiligungsgesellschaft mbH
Herr Harald Ortner
Telefon: +49 (0) 40 600 907- 110