VIB Vermogen in logistics deal

Bavaria's VIB Vermogen has acquired a parcel of logistics real estate in Bavaria and Nordhessen for EUR 47 mln. It purchased seven properties in all with a floor space of 74,888 divided into lettable areas of 1,550 m[sup]2[/sup] and 27,500 m[sup]2[/sup]. The tenants of the fully-let properties are two internationally-active logistics service providers and a German carmaker. The total annual rental income comes to EUR 4.2 mln. VIB said all the properties are in a good state of repair and don't require short-term investment. The transaction increases the total rental area of VIB's portfolio by about 45% to 241,000 m[sup]2[/sup]. The investment is being financed with EUR 17 mln in equity and a loan of EUR 30 mln.

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