Frasers Logistics and Commercial Trust (FLCT) is taking a 89.9% interest in a portfolio of 4 logistics assets in Germany from its sponsor:

FLCT said the agreed property purchase price of 129.5 million euros (S$173.1 million) represents a discount of 5.3 per cent to the assets’ appraised value by Colliers, and a 1.1 per cent discount to the value as appraised by CBRE.

The acquisition is expected to be distribution per unit and net asset value accretive to the real estate investment trust (Reit).