Germany’s Hamborner REIT has purchased a 25,000 m2 retail park in Lower Saxony for €35 mln, at a gross initial yield of 6.5%.
Germany’s Hamborner REIT has purchased a 25,000 m2 retail park in Lower Saxony for €35 mln, at a gross initial yield of 6.5%.
An der Hasenbahn 3 in Celle, near Hannover, was sold by the Hamburg-based Newport Group, who modernised the property after acquiring it in 2012.
The main tenant is a Real-SB hypermarket, while other significant occupants include Aldi and Rossman, with an average lease term of 12 years.
Hamborner REIT is a listed commercial real estate investor specialising in German retail property. Its portfolio was valued at €717 mln at end-2014.
