VIB Vermogen, a German company specialising in commercial real estate, has purchased two logistics properties in Neufahrn, near Munich, and Wackersdorf in southern Germany for EUR 37 mln. The properties, which are completely let, generate an annual rental income of about EUR 2.8 mln. The deal reflects a rental yield of 7.5% per annum, the company said in a statement.
VIB Vermogen, a German company specialising in commercial real estate, has purchased two logistics properties in Neufahrn, near Munich, and Wackersdorf in southern Germany for EUR 37 mln. The properties, which are completely let, generate an annual rental income of about EUR 2.8 mln. The deal reflects a rental yield of 7.5% per annum, the company said in a statement.
The Neufahrn property provides about 30,000 m2 of floor space and is let to a car manufacturer and a logistics company. At the other location, VIB Vermogen has acquired an industrial building with 16,000 m2 which is let to medium-sized companies active in the fields of production, logistics, and services.
The total investment is being financed with about EUR 8.5 mln of equity and a long-term bank loan amounting to around EUR 28.5 mln. In addition, the real estate holding company bought a plot of land in Neufahrn encompassing an area of 11,000 m2 for EUR 4 mln.
