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Schroder European Real Estate buys two German offices

11 April 2016 14:40

Schroder European Real Estate Investment Trust has completed the purchase of two office investments located in Stuttgart and Hamburg (Germany) at a total price of EUR28.9 million reflecting a blended net initial yield of 6.0%.

The assets are fully let with an average unexpired lease term of over 8 years.

Both properties provide efficient and modern office accommodation, are located in established office sub-markets and are well connected to public transport. The company now owns a portfolio of four assets acquired at a total purchase price of EUR90.7 million reflecting a blended net initial yield of 5.9% and a blended unexpired lease term of 7.5 years.

The company continues to pursue negotiations on a number of other potential transactions however no firm commitments have been made as at the date of this announcement.

At 2:40pm: (LON:SERE) Schroder European Real Estate Investment Trust Plc Ord Gbp0.10 share price was 0p at 107.25p

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Related Company: SERE

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