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Hansteen to sell German, Dutch industrial properties for $1.4 billion
March 20, 2017 / 7:43 AM / 6 months ago

Hansteen to sell German, Dutch industrial properties for $1.4 billion

(Reuters) - Britain’s Hansteen Holdings (HSTN.L) has agreed to sell its German and Dutch property portfolios for 1.28 billion euros ($1.38 billion) to entities owned by funds advised by affiliates of the Blackstone Group LP (BX.N) and M7 Real Estate, the company said on Monday.

The price represents a premium of about 6 percent, or roughly 76 million euros, to the assets’ valuations at end of 2016, Hansteen said in a statement.

Reporting by Esha Vaish in Bengaluru; editing by Jason Neely

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