Halverton Real Estate Investment Management has acquired an industrial complex in Paderborn, Germany on behalf of its HBI fund for EUR 28 mln. The net initial yield comes to 8.9%.
Halverton Real Estate Investment Management has acquired an industrial complex in Paderborn, Germany on behalf of its HBI fund for EUR 28 mln. The net initial yield comes to 8.9%.
The industrial estate comprises 19 individual properties totalling 57,000 m2 of space and a further 5,900 m2 effective external floor space. The properties are 96% let to 132 local, national and international businesses. The vendor was Paderborner Lagerhaus.
Separately, Halverton said it had expanded its portfolio in the Netherlands with the purchase of an industrial and office complex in the southern city of Tilburg for its HBI fund. The property consists of 2,400 industrial space and 875 m2 of office space whcih is fully let. Halverton acquired the asset from Dennenborgh Trust for just over EUR 3 mln.