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