Max Bahr

Moor Park Capital Partners LLP has recently advised Moor Park Holdings Lux Co on the acquisition of the Max Bahr property portfolio located throughout Germany (PropCo) for an undisclosed amount. The transaction was linked to the acquisition of the Max Bahr operating business (OpCo) by Praktiker, the second largest do-it-yourself retailer in Germany.

Transaction close will occur following merger control clearance, which is expected to be received from the German Federal Cartel Office in late 2006 or early 2007.


PropCo owns a real estate portfolio that consists of a core portfolio of 60 DIY stores, which are let to OpCo on a long-term triple net basis. The leases are guaranteed by Praktiker’s listed parent vehicle. The non-core portfolio of 41 assets comprises DIY stores let to Praktiker on five year leases or shorter, properties rented out to third parties, and development sites.


This transaction meets Moor Park’s strategy of advising on investments in corporate divestitures of real estate let to strong tenants. Furthermore there is a high upside potential through pro-active property management of the non- core portfolio and the transaction presents the opportunity to become a real estate partner for Praktiker going forwards.

Future Pipeline

Moor Park has a significant pipeline of investments across Europe.

Moor Park is currently evaluating a number of investment opportunities across a variety of geographies and real estate backed sectors.