Summit Germany: 40 units of commercial property acquired for €151mn
Summit Germany has announced the acquisition of 40 units of commercial property in Germany for around €151mn. The portfolio consists of 8 office, 8 logistics, and 24 retail buildings spread throughout Germany and encompasses a total usable surface of ca. 167,752 sqm. According to Summit Germany, annual rental income amounts to a total of €10.6mn. Tenants are, among others, the Federal Government, the Bertelsmann concern, Kuhne, and Edeka. Average duration of rental contracts is 9 years.