Frasers Centrepoint and subsidiaries acquire 6 cross-dock facilities in Germany for $409 mil

SINGAPORE (Dec 23): Frasers Centrepoint Limited (FCL) and its subsidiaries are acquiring six cross-dock facilities of €257 million ($408.6 million) totalling 75,478 sqm of lettable area on 426,439 sqm of land in Germany.

The properties are located in some of the country's key logistic markets in Heilbronn, Mainz, Berlin, Augsburg, Hamburg and near Leipzig.

FCL says the acquisition will strengthen its platform in Europe by growing its portfolio of recurring income assets in Germany as well as reinforce FCL’s “network effect”. The acquisition will also allow FCL to benefit rising rental and occupancy rates due to strong e-commerce demand and limited supply.

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