MAS Real Estate completes acquisition of DIY retail warehouse portfolio

Posted On Tuesday, 07 October 2014 10:13 Published by
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MAS completes the acquisition of a portfolio of DIY retail warehouses‚ situated in Germany for EUR26.2m.

Lukas Nakos

The properties are situation in Frankenthal‚ Gummersbach and Nordhausen and the acquisition was completed at the end of September 2014.

The properties are let to a leading German retailer on new 15-year leases. The initial net yield on total purchase price is 7.7%‚ the company said.

MAS has its primary listing on the Euro MTF Market of the Luxembourg Stock Exchange and a secondary listing on the Alt-X of the JSE.

At 3.23pm the counter was unchanged at R18 from Friday's close. The stock reached its highest level of R22 in June this year.

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