Schroder European Real Estate Investment Trust (SEREIT) has acquired a multi-let convenience retail property located in Frankfurt, Germany for €11 million, reflecting a net initial yield of close to 6 percent. The property is a multi-let retail scheme comprising 4,525 sqm. The asset was built in 2004, was refurbished in 2015 and is located in the growing inner urban region of Frankfurt am Main. The building is anchored by a 1,600 sqm Lidl supermarket and the combined weighted average unexpired lease term of all tenants is approximately 8 years.
