German State of Hesse Completes EUR 770 Million Sale Leaseback

CA Immo Web Site - November 20, 2006

CA Immo has acquired an extensive portfolio from the German state of Hesse. Most of the properties are located within the booming Rhine/Main region.

CA Immo has invested around Euro 770 million in the German portfolio, consisting of 36 properties with 170 buildings and encompassing a total floor space of 450,000 m2 and 6,200 car parking spaces. The properties are designated for a combination of purposes, mostly as office, administration and government buildings. The state of Hesse will remain as the primary tenant. The annual rental earnings amount to around Euro 42 million and the minimum lease lengths range from 2 to 30, the majority being long-term contracts. Sphere: Related Content