Hansteen shops in The Netherlands and Germany

Hansteen has acquired four properties in The Netherlands for EUR 13.5 mln and two portfolios in Germany comprising 12 properties for EUR 23 mln . It has also bought an office building in Germany for EUR 10 mln. In total, the acquisitions represent a value of EUR 47 mln. The portfolios generate an annual rent of EUR 3.9 mln.

The Dutch properties include a 4,540 m² warehouse in Emmeloord, northwest of Zwolle, acquired for EUR 2.23 mln through a sale-and-leaseback deal. In Waalwijk, west of 's-Hertogenbosch, the company has bought a 7,619 m² logistics and warehousing centre let to Coolag Hamar for EUR 3.91 mln. In Doetinchem, east of Arnhem, Hansteen has acquired a 7,201 m² single-let storage and distribution warehouse for EUR 2.9 mln. In Kerkrade, in the southeast of the country, a 1970s warehouse and office building has been acquired for EUR 4.52 mln.

In Germany, Hansteen has purchased two portfolios, the Lichdi and the Engler portfolio. The Lichdi portfolio consists of 12 assets, mainly retail, spread across Germany. Eight of the properties have been purchased at a cost of EUR 8.83 mln, and have a total size of 15,430 m². The assets include an Edeka supermarket in Rockenhausen let until 2012; a privately-run hotel in Hemmingen let until 2014; an Aldi supermarket in Hötensleben let until 2009; a C&A department store in Barsinghausen let until 2011; a small retail parade and offices in Völklingen let until 2009; a warehouse with offices in Wernau, an office and warehouse in Hof with lease lengths between 2008 and 2011; and another store in Chemnitz let to a well-known Danish furniture retailer until 2011.

The Engler portfolio comprises four properties covering 39,852 m² in the Ruhr region. The predominantly industrial portfolio was purchased for EUR 14.1 mln and generates a total rent of EUR 1.32 mln per annum. The portfolio consists of an office building in Essen with predominantly short-term leases, two large industrial buildings in Herne, a large multi-let industrial estate in Gelsenkirchen with lease lengths between 2008 and 2017 and a mixed-use building in Gelsenkirchen high street with a Plus supermarket on the ground floor let until 2010 and residential flats above with lease lengths between 2007 and 2017. In Dresden, Hansteen has also acquired an office building for EUR 10 mln. The 7,988 m² property is let to the customs office with a current rent of EUR 711,483 per annum.

Morgan Jones, joint CEO of Hansteen commented: 'In our view these acquisitions represent good value and further purchases are in the pipeline. In Germany we have been happy to invest in all property sectors where we see particularly good opportunities.'