CGS signs deed for Hanover logistics centre

Commerz Grundbesitz-Spezialfondsgesellschaft (CGS), a subsidiary of Germany's Commerz Grundbesitz Group, has signed the deed for the Aircargo Logistics Centre Langenhagen near Hanover, Germany,. The property is earmarked for the company's Euro Property 1 institutional property fund. The purchase price for the asset was approx. EUR 25 million, resulting in an initial gross yield against purchase price of 7.5%, CGS said.

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