GE Real Estate Germany has announced the purchase of seven mixed-use assets from a private individual for EUR 67 mln. The portfolio of office, warehouse, residential and retail properties is located primarily in Frankfurt, as well as in Bremen and Hannover. Positive prospects for rent increases and increasing returns on the Frankfurt office market was a motivating factor in going ahead with the acquisition. The portfolio is currently 75%-occupied with an average lease length of six years.
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