Frasers Centrepoint acquires German car maker

The transaction is valued at approximately $32.1m.

Frasers Centrepoint Limited announced that its indirect subsidiary, Geneba Properties, has entered into a conditional sale and purchase agreement to acquire 76.5% of the issued and paid-up capital of Harder, Gutperle, Harder & Gutperle GmbH GbR.

The target company holds the freehold interest in an automotive logistics facility comprising two industrial warehouses in Germany leased on a long-term basis to a leading German car manufacturer, which uses the Property for warehousing purposes and for reviewing, inspecting and sorting spare automotive parts.

The consideration to be paid by Geneba for the acquisition, excluding transaction costs, is approximately $32.1m.