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CapitaLand Commercial closes €251.5M purchase of stake in German building

CapitaLand Commercial Trust completed its €251.5 million purchase of a 94.9% stake in the Main Airport Center freehold office property in Frankfurt, Germany, from CapitaLand Ltd. and Lum Chang Holdings Ltd.

The Singapore-based real estate investment trust noted in a news release that the acquisition is funded by debt and equity.

The Main Airport Center has a total net lettable area of approximately 60,200 square meters and parking space for 1,510 cars.