Canadian Reit Granite is expanding its European logistics portfolio with the purchase of five logistics properties in Germany and the Netherlands for a total of €200 mln.
In Germany, the investment firm is spending €97 mln to buy three assets representing 74,000 m2 of space. The deal reflects a net initial yield of 3.6%.
The portfolio includes a hazardous materials warehouse in Wiesbaden (Georg-Baetzel-Strasse 15), the Continental tire warehouse in Korbach near Kassel (Raiffeisenstrasse 28-32) and the Ikea warehouse in Erfurt (In der Lange Else 4).
In the Netherlands, the firm has bought two assets in Breda.
JLL brokered the deal.
