Acquisition of Two Highly Sustainable Logistics Assets in Prime Locations in Germany For €290.0m

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Key facts

Location: Rumst, Belgium
Investment pillar: Value Add Asset
Acquisition price:
 €58.0 million
Net initial yield: 5.7% on the corporate acquisition
GIA: 61,568 sqm
Eaves height: 10 metres
Lease expiry: unexpired lease term of over 7 years
Acquisition date: October 2018


Further information

  • This investment, which benefits from good port and airport connectivity, comprises two modern warehouses with a total gross internal area of c.59,000 sqm and an office building of 2,500 sqm. These are fully let to Cummins NV, part of Cummins Inc., a Fortune 500 corporation, listed on the New York Stock Exchange with a market capitalisation of c.$22.8 billion that designs, manufactures, distributes and services a broad portfolio of power solutions globally. Together these buildings represent a principal distribution hub for Cummins in the EMEA region.
  • There are also two unutilised plots of land at the Rumst site, totalling c.3.4 hectares that offer attractive development potential.

For related information see Our Properties and Portfolio Summary