LONDON (Alliance News) - Schroder European Real Estate Investment Trust PLC on Monday said it has paid EUR24.3 million to acquire the freehold on a retail warehouse property in Berlin.
The trust said the purchase price for the property reflects a net initial yield of 6.2%.
The building is let to a leading, unnamed DIY company and is located in the southern suburbs of the German capital.
Shares in the trust were down 0.3% to 109.88 pence Monday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Schroder Eur.r (SERE)