Clarion Partners Europe has acquired a €50m warehouse in the Czech Republic in a sale-leaseback deal from automotive interiors supplier Yanfeng.
The 47,000sqm property, located in the Triangle Industrial Zone in Žatec, is let to Yanfeng on a new 15-year triple-net lease.
Thorben Schaefer, managing director at Clarion Partners Europe, said: “This transaction is well aligned with our sale-leaseback/long-income strategy, which focuses on acquiring high-quality assets with long-term leases to strong tenants. It builds on our nearly 20-year track record of sourcing, structuring and executing sale-leaseback transactions across Europe.”
Max Rooney, director at Clarion Partners Europe, said: “This was a rare opportunity to acquire a mission-critical asset at a defensive entry basis, secured by a 15-year triple-net lease to a strong covenant, and we are delighted to have Yanfeng join our tenant roster.”
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