New Europe Property shops in Germany

Listed CEE property investor New Europe Property Investments has purchased 50% of a portfolio comprising four retail centres, a medical office facility and a mixed-use retail and residential property from an unnamed seller. The transaction amount comes to EUR 17mln, net of acquisition costs and including EUR15mln of debt. The deal reflects a net initial yield of 7.22%.The retail centres, with 17,200 m[sup]2[/sup] of net leasable area, are situated in Leipzig, Bruckmuehl, Eilenberg and Frankfurt, Germany. The six-storey medical centre is located in Munich and has a total lettable area of 2,360 m2, while the mixed-use asset has a lettable area of 5,510 m[sup]2[/sup] and parking facilities for 150 cars. The total net annual rent for the portfolio is expected to be approximately EUR 2.4 mln.

Premium subscriber content – please log in to read more or take a free trial.
Editor
Profile

Events

Latest news

Best read stories

About PropertyEU

Who are we? PropertyEU was established in 2006 as a truly pan-European information source for real estate professionals. We provide in-depth news, data and analysis of Europe's property markets at a time of increasing cross-border investment, development and financing across the continent and beyond.

Contact information

Office address

Prins Bernhardplein 173
1097 BL Amsterdam

Phone

General:
+31 (0)88 776 73 78

Our media channels

Top
© Copyright PropertyEU 2024.