Capital & Regional Web Site - January 20, 2006
Capital & Regional plc, the co-investing property asset manager, today announces further acquisitions in its joint venture in Germany.
A further six "big box" out of town retail properties have been acquired for €115 million producing a net initial yield of approximately 7% after non-recoverable costs. The properties have 87,100 sq m of lettable area and tenants include Real (Metro), Wal Mart, Toom (REWE), and Plaza (CoOp).
The acquisitions have increased the portfolio to a total of 14 properties with a total floor area of 156,000 sq m and a total investment of €226 million. The portfolio is being managed by the Hahn Group which has a 10% share in the joint venture.
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Sunday, January 22, 2006
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