CLS completes acquisition of Züblin portfolio
CLS Holdings
92.70p
16:34 31/10/24
-2.83%
-2.70p
UK based investment property firm, CLS Holdings confirmed on Tuesday it had completed a previously announced acquisition of twelve properties in Germany for a cash value of €148m.
FTSE 250
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17:14 31/10/24
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FTSE 350
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17:14 31/10/24
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17:09 31/10/24
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Real Estate Investment & Services
2,330.76
17:14 31/10/24
-2.42%
-57.82
The properties were acquired from Züblin Immobilien, a Swiss-listed property group and consists of 963,596 square feet of multi-let office space, with 157 tenants at a current occupancy rate of 89%.
Net rent generated from the properties is €10.1m per year, with the top five tenants accounting for 28% of that.
As of 0845 BST, shares had remained relatively unchanged by the announcement, down 0.64% to 218.60p.