Vienna-based property group CA Immo has agreed to buy an ultra-modern 115,000 m[sup]2[/sup] logistics centre development project in Hamburg from the US private equity Carlyle Group. The centre will be leased entirely to the Swedish clothing retailer Hennes & Mauritz (H&M), which has agreed to let the space for at least the next 15 years.
Vienna-based property group CA Immo has agreed to buy an ultra-modern 115,000 m2 logistics centre development project in Hamburg from the US private equity Carlyle Group. The centre will be leased entirely to the Swedish clothing retailer Hennes & Mauritz (H&M), which has agreed to let the space for at least the next 15 years.
The financial details were not disclosed. But CA Immo said in a statement that the acquisition, which will take the place of a forward purchase agreement, is a ‘major step’ towards its EUR 1 bn German investment goal for 2007. Prior to this latest agreement, Ca Immo noted that it had EUR 840 mln in property assets in Germany at end-June while negotiations are underway for the acquisition of other assets in the country.
