The buildings total 194,413 sf and are let to 57 different tenants with a vacancy rate of 2.6%. The rental income from the properties is €3,663,790 ($3.63 million) and there is a significant reversionary element according to the company. The purchase price represents an initial yield of 8.6% and after lease restructuring this is expected to rise to 9.25%.
Executive Chairman, Sten Mortstedt, said:"I am pleased that we are continuing to find good investment opportunities generating good returns and that we have been able, through active asset management, to realise some of the reversionary value in our portfolio, thus enhancing asset values."
L'Etoile Properties advised CLS.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
