ILG acquires local retail center in Uedem with Heuking

With a team led by Dr. Frank Baßler and Klaus Weinand-Härer, both Partners at Heuking Kühn Lüer Wojtek, ILG Capital GmbH acquired a local retail center from Schoofs group, based in Kevelaer in the Lower Rhine region, on behalf of an open-ended special AIF by way of a forward deal. The commercial property in Uedem comprises 4,651 square meters of total leasable space. Tenants are the retailers Aldi, Edeka, and dm. The project was concluded and taken over for the fund’s account in December 2021. The acquisition price was not disclosed.

The fund pursues a fixed investment strategy for professional and semi-professional investors with a focus on retail center properties. Administration and portfolio management of the open-ended real estate special AIF is handled by IntReal International Real Estate Kapitalverwaltungsgesellschaft mbh as service capital management company.

Owner-managed ILG group is a leading specialist for German retail real estate with 40 years of experience. With its Capital Management, Asset Management, Property Management, and Center Management business units, ILG offers investors and clients a fully integrated support concept for retail properties across all phases of their life cycle. Currently, ILG group manages properties worth more than EUR 1.7 billion or more than 900,000 square meters of retail space. The occupancy rate is 98%.

Counsel to ILG group:
Heuking Kühn Lüer Wojtek:
Dr. Frank Baßler (Lead, Real Estate),
Veronika Straub (Real Estate), both Stuttgart
Bettina Neheider (Public Law), Munich
Klaus Weinand-Härer (Lead, Tax),
Adam Brockmann (Tax), both Frankfurt