Diversifying its real estate portfolio into Germany is one of the key investment strategies being pursued by CA Immo. Consequently, the company has now 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 €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 €42 million and the minimum lease lengths range from 2 to 30, the majority being long-term contracts.
This acquisition strongly reinforces the guiding strategic principle at CA Immo of maintaining a long-term portfolio policy focused on stability.
The Rhine/Main region is one of the leading economic zones in Germany, located in the strongest national European economy. All relevant research attests to the fact that this region in particular, where CA Immo has now established a significant presence, is set to enjoy considerable development in the future. This area will continue to be characterised by newly established businesses, investment and population growth.
Source: CA Immo