Sirius Real Estate has acquired a light industrial property in Geilenkirchen, Germany, for €12.9 million.
The asset was acquired in a sale-and-leaseback transaction with a precision engineering business that has signed up for a triple net lease on the entire property. The acquisition reflects a net initial yield of 9.3%.
The property is in a strategic location in Geilenkirchen, west of Düsseldorf, in close proximity to the Belgian and Dutch borders. Geilenkirchen is also home to a key NATO airbase, further contributing to the area’s economic stability.
Source: realassets.ipe.com on the 26th of June