11th Jan 2016 08:29
LONDON (Alliance News) - German commercial property investor Summit Germany Ltd on Monday said it has spent EUR15.0 million on office buildings in Munich and Duisberg.
The properties offer a total lettable area of 12,000 square metres, the company said, and are currently let to several strong tenants, producing EUR1.2 million a year in rent.
"The acquired properties in Munich and Duisburg fit our strategy as they are well located, with low capital value and a very stable income. Together with long term financing they will improve our cash flow," said Zohar Levy, Summit Germany's managing director.
Summit Germany shares were untraded early Monday, having last traded at EUR0.955.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
SMTG.L