AIM-listed Puma Brandenburg said it has bought a mixed portfolio of four assets in Germany for a total of EUR 116 mln. The transaction, reflecting a yield of 6.75%, brings Puma's real estate investments in the country to EUR 600 mln. The company, which invests solely in German residential and commercial property, indicated that the main assets are the Cologne Hyatt Regency, a five-star hotel with a long fixed lease, and a mixed hotel/office building in Nuremberg let to Accor and Ibis. The portfolio consists of some 53,177 m[sup]2[/sup] of mixed-use space. It also includes a shopping centre in Zweibrücken and a mixed residential, retail and office building located in Mühlheim. The company added that the acquisition price represents a price per m[sup]2[/sup] of EUR 2,181.
AIM-listed Puma Brandenburg said it has bought a mixed portfolio of four assets in Germany for a total of EUR 116 mln. The transaction, reflecting a yield of 6.75%, brings Puma's real estate investments in the country to EUR 600 mln. The company, which invests solely in German residential and commercial property, indicated that the main assets are the Cologne Hyatt Regency, a five-star hotel with a long fixed lease, and a mixed hotel/office building in Nuremberg let to Accor and Ibis. The portfolio consists of some 53,177 m2 of mixed-use space. It also includes a shopping centre in Zweibrücken and a mixed residential, retail and office building located in Mühlheim. The company added that the acquisition price represents a price per m2 of EUR 2,181.