Acquisition

RNS Number : 9475T

Schroder Eur Real Est Inv Trust PLC

01 April 2016

 

1 April 2016

ACQUISITION - Completion of the purchase of a retail warehouse property located in Berlin, Germany

Further to the announcement on 1 February 2016 regarding notarisation of the purchase of a retail warehouse property located in Berlin, Germany, the Board of Schroder European Real Estate Investment Trust Plc (the "Company") confirms completion of the purchase at a price of €24.25 million reflecting a net initial yield of 6.2%. The asset is fully let to a leading DIY specialist, on a triple net basis with a remaining lease term of almost 10 years. The asset is situated on a large prominent site in an established and growing southern suburb of Berlin.

The Company now owns a portfolio of two assets acquired at a total purchase price of €61.8 million. As previously announced the Company has also committed to acquire an additional two assets having a total purchase price of €28.9 million.  The Company continues to pursue negotiations on a number of other potential transactions however no firm commitments have been made as at the date of this announcement.

Enquiries:

Duncan Owen/Tony Smedley

Schroder Real Estate Investment Management Limited                  Tel: [phone]

Ria Vavakis

Schroder Investment Management Limited                                        Tel: [phone]

 

END

 

 

ACQEADLFESDKEFF