GPT Halverton has announced that it has acquired a commercial property in Geldern, in the Rhine-Ruhr region in Germany, for the HBI fund.
The property is situated in Walbecker Strasse in a commercial park around three kilometers from the town of Geldern. Geldern has a population of around 34,000 and is located in North Rhine Westphalia in the Rhine-Ruhr region. Geldern has good links to the German and Dutch transport networks.
The property consists of five separate buildings constructed between 1995 and 2004 and is fully let. The total area is 36,100 m², around 4% of which is office space. There are 15 leaseholders, including local, national and international companies, with UPS as the main tenant.
The property was purchased for an undisclosed amount through the vendor, Felix Opheis.
The transaction was brokered by the regional office of real estate consultants Catella.