UK-listed property REIT Segro has agreed a sale-and-leaseback deal with Mannesmann Plastics Machinery (MPM) for three industrial sites in Germany, at Munich, Nuremberg and Hanover. The leaseback period is for a minimum term of 15 years and the transaction represents a net initial yield of 7.1%. The value of the Munich site is approximately two-thirds of the total portfolio and marks Segro's first move into this target market.
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