LaSalle pays €30m.for home stores

LASALLE Investment Management yesterday announced it has paid €30 million for three home improvement centres from Max Bahr in a sale-and-leaseback deal.

German home improvement store owner Max Bahr is leasing back the stores, which are located in northern Germany.

The leaseback deal is for 10 years.

German group Praktiker AG last year bought Max Bahr’s operating business. Its real estate assets were pooled into a holding company sold to Moor Park Holdings Luxembourg Sarl.

LaSalle is a wholly owned, but operationally independent, division of Jones Lang LaSalle.

Australian Property Journal