Frasers industrial REIT acquires 21 properties across Germany, Netherlands for USD735 million


Frasers Logistics & Industrial Trust (FLT) is making its maiden entry into Europe by acquiring 21 industrial properties across Germany, and the Netherlands for EUR596.8 million (USD735 million).

The properties will be acquired from a subsidiary of the REIT’s sponsor, Frasers Property Limited, and will be executed via a share purchase agreement in a target company known as FPE Logistics BV, which owns interests in the properties.

The consideration includes the purchase price of EUR316.2 million for the properties, adjusted for the estimated consolidated net assets and liabilities of the target company and the amount it owes to the vendor, which will now be borne by the REIT.

Frasers Logistics & Industrial Trust has described the acquisition as a transformational one that will expand the REIT’s initial focus from Australia, and now to Germany and Europe.

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