21st Aug 2018 11:48
LONDON (Alliance News) - Alpha Real Trust Ltd on Tuesday said it bought an industrial facility in Hamburg, Germany for EUR17 million, including acquisition costs.
The investment company said the property is leased to water & energy management firm Veolia Umweltservice Nord GmbH with a 24-year unexpired lease term.
Under the lease, the tenant is responsible for building maintenance. The company also said that Veolia pays rent of EUR900,000 per annum, which has periodic inflation linked adjustments.
As part of the acquisition funding, Alpha Real Trust said it has secured a EUR9.5 million fixed rate loan facility with a 10-year term.
Shares in Alpha Real Trust were untraded on Tuesday, last quoted at 133.00 pence each.
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