TAG acquires commercial properties for EUR 40m

By A staff reporter 2007-04-25T00:00:00+01:00

German property company TAG Tegernsee has acquired a portfolio of four commercial properties for EUR 40 mln. The portfolio, including two office and two commercial assets, has a gross lettable area of 21,000 m[sup]2[/sup]. The properties are located in Nuremberg and Hamburg. The vendor was not named. The transaction represents a further strategic step towards a REIT listing, the company said in a press release. TAG's portfolio is valued at circa EUR 200 mln.

German property company TAG Tegernsee has acquired a portfolio of four commercial properties for EUR 40 mln. The portfolio, including two office and two commercial assets, has a gross lettable area of 21,000 m². The properties are located in Nuremberg and Hamburg. The vendor was not named. The transaction represents a further strategic step towards a REIT listing, the company said in a press release. TAG's portfolio is valued at circa EUR 200 mln.