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Sirius Real Estate adds industrial property to German portfolio

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

https://realassets.ipe.com/news/sirius-real-estate-adds-industrial-property-to-german-portfolio/10131306.article