Israeli family office LAHAV is continuing its acquisition strategy in the German retail sector. Following earlier purchases at the beginning of the year, the company has now acquired a further package of six northern German commercial properties leased to the retail chain Jawoll. The vendor of the properties is a real estate company based in Bavaria.
At the start of the year, LAHAV had already added two stores of the discount chain in the Lower Saxony towns of Nienburg and Wittingen to its own portfolio. With the current transaction, the family office strengthens its presence in northern Germany and secures further operational locations of the retail business.
Scope and composition of the portfolio
The newly acquired real estate portfolio comprises a heterogeneous mix of retail and logistics space. In total, the lettable usable space of the six properties amounts to around 24,000 square metres, while the associated plot area extends across approximately 64,200 square metres of land.
- —Five established retail locations in the federal states of Schleswig-Holstein and Lower Saxony
- —The central main warehouse of discount store chain Jawoll
- —A total plot area of approximately 64,200 square metres
- —Around 24,000 square metres of total lettable space
With the acquisition of the central Jawoll warehouse, LAHAV takes over a core logistics property of the retail chain that plays a pivotal role in supplying goods to the branch network. Together with the five store locations in Schleswig-Holstein and Lower Saxony, the portfolio covers key hubs of the business in northern Germany.
Transaction advisory and future management
On the advisory side, DRIA GmbH advised the family office on the acquisition process. The service provider will also be responsible for the operational asset and property management of the six properties in the future, thus taking on the ongoing administration of the acquired portfolio.
With regard to the purchase price achieved as well as the specific commercial terms of the transaction, all parties involved have agreed to maintain confidentiality.
