GxP German Properties have successfully purchased a portfolio comprising of eight commercial properties with a lettable area of circa 65,100m² and a value of approximately €89m.
The properties are in good condition and have a vacancy rate of around 15 percent. The initial rental yield stands at an attractive 8.7 percent.
The majority of the acquired portfolio is located in the Metropolregion Frankfurt / Rhein-Main incorporating approximately 40,300m² of space. The other properties are spread over Düsseldorf, Stuttgart, Mannheim and Hanover.
The transaction was financed both from their private funds, as well as through debt financing in cooperation withHSH Nordbank.
