CapitaLand Commercial Trust to Invest in German Property

News about CapitaLand Commercial Trust

CapitaLand Commercial Trust plans to purchase a 94.9% stake in Main Airport Center (in Frankfurt, Germany). The freehold office property, built in 2004, is located near the city airport and has a 90% committed occupancy, a 4.7 year WALE and Net Property Yield of 4%.

The trust will pay 251.5 million Euros for the stake, and will fund the operation through a mix of debt and new equity (a private placement has been announced). The manager expects the acquisition to be DPU accretive.

CapitaLand Commercial Trust
Price2.070 SGD
NAV1.810 SGD
Yield (4 quarters)4.26%
Gearing34.8%