Commercial Property News - May 05, 2006
ING Real Estate of the The Hague, Netherlands, bought a portfolio of 25 supermarkets in Sweden this week from ICA, a Swedish retailer, for €93 million ($117 million U.S.), in a sale/leaseback transaction. The 25 ICA standalone stores in the southwest of Sweden will be added to the new ING Real Estate Nordic Property Fund, a non-listed fund for global institutional investors expected to launch in the fourth quarter.
ING acquired the portfolio of ICA supermarkets at an initial yield of 5.5 percent.
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Friday, May 05, 2006
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