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Frasers Property unit buys German logistics portfolio from Segro JV

Singapore-listed Frasers Property Ltd. unit Frasers Property Europe bought four German logistics properties from Segro PLC and Canada-based Public Sector Pension Investment Board's €2.5 billion European Logistics Partnership, Property Investor Europe reported.

The properties contain more than 85,000 square meters of lettable space, with a weighted average lease of 5.5 years, and are fully leased to international logistics companies. Three of the facilities are in the Saarland state, while one is in the Baden-Württemberg state, the July 2 report noted.