Ciref's subsidiary Ciref Berlin 1 has bought a property portfolio that includes four supermarkets in Germany for EUR 21 mln. The deal reflects a net initial yield of 7.6%. The properties are located in residential areas in the cities of Aachen, Bunde and Uelzen, northern Germany.
Ciref's subsidiary Ciref Berlin 1 has bought a property portfolio that includes four supermarkets in Germany for EUR 21 mln. The deal reflects a net initial yield of 7.6%. The properties are located in residential areas in the cities of Aachen, Bunde and Uelzen, northern Germany.
The investment and development company said that the sites have 7- to 15-year lease periods. Tenants include supermarket chains Lidl and Edeka, a national chain of beverage stores, a pet store and a regional fitness centre.
