Funds advised by Lodge Quai Advisors LLP (LQ) have agreed to acquire three corporate real estate assets in Germany in a primary sale & leaseback (SLB) transaction from a leading European distributor of lighting fixtures. The portfolio comprises a lettable area of 31,000m2 and the assets are located in North Rhine-Westphalia, Germany. The properties are predominantly distribution warehouses that are strategic to the tenant’s operations. The triple-net lease will run for an initial term of 20 years.
Thomas Reckers, net lease portfolio manager at LQ commented: “This is an attractive transaction for which the LQ team was able to source competitive debt financing from a local lender. This transaction demonstrates LQ’s continued ability to allocate capital to SLB transactions with major corporations, notwithstanding the current volatility in the market. In the last 12 months, LQ has deployed over €300 million across real estate strategies and continues to seek SLB opportunities across Europe that provide corporations with capital to grow their business and optimise their long-term capital structure while maintaining occupancy of strategic real assets.”
Image provided by Lodge Quai.
