Hamburg-based Alstria Office REIT is buying a portfolio of five office properties in Germany from insurance group Huk-Coburg and its subsidiaries. The transaction volume is EUR 53 mln, or EUR 1,791 per m[sup]2[/sup]. The properties will be leased back to the German insurer for an annual lease of EUR 3.3 mln. The deal reflects a net initial yield of 6.22 %, and a gross yield of 6.6%.
Portuguese real estate investor and developer Bondstone is investing around €70 mln in a residential development in Belas Clube de Campo, municipality of Sintra, Portugal.
