Two Israeli companies have acquired a high-tech industrial park near Cologne, eastern Germany, for EUR 106.7 mln. Property and Building Ltd and Electra Ltd conducted the purchase through a foreign subsidiary in which each company has a 42.5% stake.
Two Israeli companies have acquired a high-tech industrial park near Cologne, eastern Germany, for EUR 106.7 mln. Property and Building Ltd and Electra Ltd conducted the purchase through a foreign subsidiary in which each company has a 42.5% stake.
The park comprises 15 buildings with a net 72,000 m2 of space and 1,600 parking spaces. The property also has building rights for an additional 50,000 m2. The park is fully leased to various tenants at a gross rent of EUR 7.6 mln per annum. German financial institutions will provide a five-year loan of EUR 93.7 mln at 5.25% interest to finance the transaction.
