German bank Berlin Hyp has provided €125 mln to Gramercy Property Europe FOR A mixed commercial portfolio it has built up in the Netherlands, Germany and Poland.
The portfolio comprises a total of twelve single-tenant buildings of which six are located in the Netherlands, four in Germany and two in Poland. The total rental area of the logistic, storage and office buildings is approximately 280,000 m². All properties have long-term leasing agreements with established businesses such as Hornbach and Cofely.
A wholly owned subsidiary of US REIT Gramercy Property Trust, Gramercy Property Europe is an investment fund that targets single-tenant net leased assets and sale-leaseback transactions across Europe.
The fund has initial equity commitments of €350 mln and invests predominantly in industrial, office and specialty retail assets in Germany, the Netherlands, the Nordic region, the UK and other targeted European countries such as Poland.
Alistair Calvert, managing director and head of investments at Gramercy Europe, told PropertyEU earlier this month that the Gramercy is on track to invest €800 mln in Europe this year.
