Hahn Group, the Gladbach-based real estate asset and investment manager, has acquired a portfolio of DIY stores in Germany and Sweden from Taurus Investment, the Boston-based real estate investor and advisor, for a figure understood to be around €190 million.
The properties, which were bought on behalf of Hahn Group’s Hahn VZWL Retail Fund, are located in Berlin, Munich, Essen, Kiel, Binzen and Remseck in Germany and Malmö in Sweden. The Berlin property serves as a regional training center for Hornbach employees and is one of the firm’s four online retailing centers in Germany.
The seven stores, which are all on long-term leases to Hornbach, comprise rentable space between 130,000 and 180,000 square feet, with the entire portfolio totaling around 1.2 million square feet.
“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,” said Michael Hahn, chief executive officer of Hahn Group.
Hornbach has been one of the most profitable and successful DIY store operators in Germany in recent times, with a growth rate of 2.4 percent in the first nine months of last year, double the growth of the overall DIY market, said a spokesman for Hahn.
Lorenz Reibling, chairman and senior partner at Taurus said: “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.”
If you do not receive this within five minutes, please try to sign in again. If the problem persists, please email: 
