LONDON (Alliance News) - Globalworth Real Estate Investments Ltd said Friday that it has acquired West Link, a office property located in Wroclaw, Poland, for EUR35.8 million.
The company's 72% owned unit Globalworth Poland Real Estate NV acquired West Link, which has 14,400 square meters gross leasable area and occupancy of 100%, with an annual contracted rental income of EUR2.5 million and a weighted average lease length in excess of six years.
The transaction, structured as a forward purchase agreement, was set out in GPRE's prospectus at the time of the company's IPO in April 2017. Globalworth Real Estate part-funded EUR18 million through a forward purchase debenture in June 2017, with the remaining consideration payable on completion.
Shares in Globalworth Real Estate Investments closed at EUR9.45 each, down 1.6%.
Globalworth (GWI)