German commercial property investor GRR has acquired five discount supermarkets in the country for a total of EUR 28 mln. The transaction reflects a net initial yield of 7.9%. The properties are located in the German states of Hessen, Rhineland-Palatinate, Bavaria and Upper Franconia. They are let on a long-term basis to discount operators Rewe, Aldi, Edeka, Tegut and Penny.The company now owns a portfolio consisting of 108 commercial assets worth some EUR 310 mln.
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