SINGAPORE (Apr 20): Frasers Logistics & Industrial Trust (FLT) is buying a portfolio of 21 properties in Germany and the Netherlands for $515.4 million from its sponsor.

Seventeen of the properties are located in Germany while four are located in the Netherlands. They are said to be "prime, strategically located and predominantly freehold portfolio with diversified tenant mix 100% occupancy with weighted average lease expiry (WALE) of 8.0 years.

Frasers Logistics & Industrial Asset Management, the manager of FLT, entered into a share purchase agreement with vendor Frasers Property Investments (Holland) B.V., a wholly-owned subsidiary of sponsor Frasers Property to acquire all the shares of FPE Logistics B.V. which holds interests in 21 properties.

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