Property Week - December 6, 2007
Sellar Property Group has completed a sale and leaseback purchase of a 13-strong German portfolio for €55.5m (£40m).
The properties, which total 700,000 sq ft over 40 acres of land in the Ruhr Valley were purchased from an undisclosed seller. They are let to Italian-based textile company Miro Radici Group on 12 year leases, generating an annual rent of €4m (£2.8m).
The purchase brings Seller’s investment in German investments to approximately €130m (£93.7m), taking it closer to its target of €250m (£180m) within the next 12 months.
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Monday, December 10, 2007
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