Seven locations in Berlin, Munich, Essen, Kiel, Binzen, Remseck (Germany) and Malmö (Sweden)
Transaction volume around € 190 mn
Boston/Munich – Taurus Investment has sold a portfolio of seven Hornbach DIY stores. The portfolio was purchased by the Hahn Group for their institutional Hahn VZWL Retail Fund from Taurus Investment Holding (Deutschland) GmbH & Co Baumarkt Immobilienfonds KG. The acquisition was a share deal valued at about € 190 mn.
The properties are located in Berlin, Munich, Essen, Kiel, Binzen, Remseck in Germany and Malmö in Sweden. The Berlin property also serves as a regional training center for Hornbach employees and is one of the four online retailing centers in Germany. The seven stores comprise rentable space between 13,000 and 18,000 sqm each, with the entire portfolio totaling 114,000 sqm. All of these properties are fully leased to Hornbach under long-term contracts.
Michael Hahn, CEO of the Hahn Group, explains the advantages of the acquisition: “The Hornbach portfolio offers strong and sustainable returns for our investors. The location and size of all properties are excellent, as DIY stores benefit from high profitability and stability, and Hornbach has an outstanding reputation.”
Lorenz Reibling, Chairman and Senior Partner of Taurus Investment Holdings, says: “We are satisfied with having sold the portfolio of seven Hornbach stores to the Hahn Group after a hold period of more than ten years. Taurus acquired the stores in a sale-leaseback-transaction from Hornbach between 2004 and 2006. We look forward to further cooperation with the Hahn Group.”
Hornbach is considered one of the most profitable and successful DIY store operators in Germany, with a growth rate last year of 2.4 % in the first nine months. This is faster than the overall market growth rate of 1.2 %, according to figures from the German DIY store trade association BHB (Handelsverband Heimwerken, Bauen und Garten e.V.).
Recent News
NewsDec 15, 2016
TAURUS ACQUIRES 404-UNIT COMPLEX “SOUTH WINDS” FOR $39.5M
Taurus RE Capital Ltd is an appointed representative of Sapia Partners LLP which is authorised and regulated by the Financial Conduct Authority.
Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional
Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
