Flughafen Leipzig/Halle, the regional airport serving the German cities Leipzig and Halle, has acquired Terminal B of the airport it operates from Commerz Real’s closed-end real estate fund 72 (CFB 72) for €32.4 mln.
The airport company had leased the terminal complex, comprising more than 25,000 m2 of usable floor area since 1996, and has now exercised its contractual right to purchase the asset after 22 and-a-half years.
'This marks the all-round successful conclusion of an investment that progressed just as forecast,' said Heiko Szczodrowski, head of asset structuring, portfolio management, at Commerz Real.
CFB 72 has a total nominal value of some €54 mln, including around €30 mln in equity, and was established in 1996 as a conventional leasing fund.
Following the sale of the terminal, the fund will be dissolved, with investors receiving pay-outs equivalent to approximately 135% of their original contribution, according to Commerz Real.
