German investor LHI Leasing has set up a new closed-end real estate fund to acquire the BMW dealership providing some 35,000 m[sup]2[/sup] of space in Stuttgart-Vaihingen. The investment volume of EUR 69 mln consists of EUR 57 mln provided by a number of investors in the fund and a further EUR 12.5 mln of its own capital.
German investor LHI Leasing has set up a new closed-end real estate fund to acquire the BMW dealership providing some 35,000 m2 of space in Stuttgart-Vaihingen. The investment volume of EUR 69 mln consists of EUR 57 mln provided by a number of investors in the fund and a further EUR 12.5 mln of its own capital.
The property is leased with a 30-year rental term providing a total of EUR 3.4 mln per annum. The fund will run until 2023 or 2039 at the latest, providing investors with annual returns of 7.5-8.5%.
