German commercial property company VIB Vermögen has spent €22.3 mln on a retail park and a service station, at a total yield of more than 7%.
German commercial property company VIB Vermögen has spent €22.3 mln on a retail park and a service station, at a total yield of more than 7%.
The retail property in Neu-Ulm, bought for €14.8 mln, has a total area of 18,740 m2, with two-thirds let on a 15-year lease.
VIB also acquired a MAN service station in Umkirch, near Freiburg, for an investment volume of €7.5 mln.
VIB Vermögen has a portfolio of more than 100 properties in Germany, mostly concentrated in Bavaria, with a total lettable area of 915,000 m2 and a market value of €865 mln.
