Grainger has exchanged contracts to dispose of part of the German estate, the FRM portfolio, to Heitman, a global real estate investment manager. The total gross consideration is £94m comprising £42m cash and transfer of £52m debt. Grainger has approximately £45m of assets in Germany remaining on which the sale process is underway, progressing towards a complete exit from the country. The NNNAV/NAV impact is marginal at -1p/-2p and improving LTV by c.1.6%. We are encouraged by further progress a ....

05 Feb 2016
Disposal of German portfolio to Heitman for £94m

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Disposal of German portfolio to Heitman for £94m
Grainger plc (GRI:LON) | 247 -4 (-0.6%) | Mkt Cap: 1,831m
- Published:
05 Feb 2016 -
Author:
Andrew Watson -
Pages:
3 -
Grainger has exchanged contracts to dispose of part of the German estate, the FRM portfolio, to Heitman, a global real estate investment manager. The total gross consideration is £94m comprising £42m cash and transfer of £52m debt. Grainger has approximately £45m of assets in Germany remaining on which the sale process is underway, progressing towards a complete exit from the country. The NNNAV/NAV impact is marginal at -1p/-2p and improving LTV by c.1.6%. We are encouraged by further progress a ....