London – 4 April 2023 – Funds advised by Lodge Quai Advisors LLP (“LQ”) have agreed to acquire five corporate real estate assets in Germany in a primary sale & leaseback (“SLB”) transaction for €80.0 million.
The portfolio comprises a lettable area of 85,000 sqm that the tenant will lease for an initial fixed term of 20 years. All five properties are strategic profit centres for the tenant’s operation, with the portfolio including the tenant’s headquarters facility. The closing, subject to customary conditions precedent, is expected to occur in late April.
Thomas Reckers, net lease portfolio manager at LQ commented:
“This transaction demonstrates LQ’s continued ability to allocate capital to SLB transactions with major corporations, notwithstanding, the current volatility in the market.
In the last 6 months, LQ has deployed over €200.0 million and continues to seek SLB opportunities across Europe that provide corporations with capital to invest in their business, while providing long-term occupancy of strategic real assets.”
LQ was formed by Cabot Lodge and Daniel Quai in 2013 as an independent principal real estate investment and advisory firm. LQ invests capital on behalf of institutional clients, asset managers, single and multi-family offices. LQ is focused on two main strategies in the UK/Europe:
Net lease: provision of net lease finance on strategically important commercial real estate let on a long-term lease to credit-worthy tenants.
Real estate debt: provision of senior, mezzanine and preferred equity capital to small-to-medium sized developers and real estate operating companies.