Dutch property company Geneba has acquired a portfolio of three light industrial properties in northwest Germany for a total €36.6 mln.

geneba buys light industrial assets in germany

Geneba Buys Light Industrial Assets in Germany

Two of the three properties, located in Münster and Brilon, were acquired in May, while the third property, in Rastede, was closed at end-September. The acquired portfolio has a total lettable area of 40,000 m2.

The Rastede property is leased to Broetje-Automation, which develops and produces machines and assembly lines for aircraft. The Brilon property is leased to ABB, a Swiss robotics, power and automation technology provider. The Münster property is leased to Saurer Components, a manufacturer of textile machinery. 

The acquisition was funded by proceeds from a rights issue that was completed in January 2015 and financed by a long-term loan from DG Hyp.

Geneba was advised by Greenberg Traurig on the legal side while Amman Holding acted as broker on this transaction.

Amsterdam-based Geneba Properties owns and manages a property portfolio of over €785 mln consisting mainly of long-term leased corporate real estate assets in Germany and the Netherlands.