Listed CEE property investor New Europe Property Investments has purchased 50% of a portfolio comprising four retail centres, a medical office facility and a mixed-use retail and residential property from an unnamed seller. The transaction amount comes to EUR 17mln, net of acquisition costs and including EUR15mln of debt. The deal reflects a net initial yield of 7.22%.The retail centres, with 17,200 m[sup]2[/sup] of net leasable area, are situated in Leipzig, Bruckmuehl, Eilenberg and Frankfurt, Germany. The six-storey medical centre is located in Munich and has a total lettable area of 2,360 m2, while the mixed-use asset has a lettable area of 5,510 m[sup]2[/sup] and parking facilities for 150 cars. The total net annual rent for the portfolio is expected to be approximately EUR 2.4 mln.
Listed CEE property investor New Europe Property Investments has purchased 50% of a portfolio comprising four retail centres, a medical office facility and a mixed-use retail and residential property from an unnamed seller. The transaction amount comes to EUR 17mln, net of acquisition costs and including EUR15mln of debt. The deal reflects a net initial yield of 7.22%.The retail centres, with 17,200 m2 of net leasable area, are situated in Leipzig, Bruckmuehl, Eilenberg and Frankfurt, Germany. The six-storey medical centre is located in Munich and has a total lettable area of 2,360 m2, while the mixed-use asset has a lettable area of 5,510 m2 and parking facilities for 150 cars. The total net annual rent for the portfolio is expected to be approximately EUR 2.4 mln.
