Lodge Quai Advisors (LQ), the firm set up in 2013 by former WP Carey executive Cabot Lodge, and Daniel Quai, in 2013, has acquired three corporate real estate assets in Germany in a sale-leaseback with a European distributor of lighting fixtures.
The portfolio comprises a lettable area of 31,000 m2 in North Rhine-Westphalia that is predominantly distribution warehouses strategic to the tenant’s operations. The triple-net lease will run for an initial term of 20 years.
Thomas Reckers, net lease portfolio manager at LQ, said: 'This is an attractive transaction for which the LQ team was able to source competitive debt financing from a local lender.'
He added how the firm was able to transact continually with major corporations despite market volatility. The firm has been on a strong run for the last year.
'In the last 12 months, LQ has deployed over €300 mln across real estate strategies and continues to seek sale leaseback (SLB) opportunities across Europe that provide corporations with capital to grow their business and optimise their long-term capital structure while maintaining occupancy of strategic real assets,' he said.
