Milan / London, 3 January 2023
Funds advised by CRE have closed the acquisition of KME’s Germany headquarters and main manufacturing facilities in Osnabrück last week. Through a sale & leaseback transaction, KME will lease the property for a primary term of 30 years. The lease is guaranteed by KME’s holding company. KME is one of the world’s largest manufacturers of copper, copper alloy and copper rolled products. The property represents the company’s main European footprint and services a worldwide distribution network. Totalling more than 570,000 sqm, the Osnabrück site contains 273,600 sqm of lettable industrial and office space.
Thomas Reckers, net lease portfolio manager at CRE, commented: “This transaction demonstrates CRE’s ability to close complex sale and leasebacks for major corporations in a timely manner. With significant capital resources for investment, CRE continues to seek sale & leaseback opportunities across Europe that provide corporations with capital to invest in their business, while providing long-term occupancy of strategic real assets.”
Diva Moriani, KME’s Vice president and Group Chief Transformation Officer, commented: “This transaction, materially contributes to the group target of progressive deleveraging, providing also proceeds to support the growth path of the KME core business. We successfully executed a complex sales and lease back together with CRE, an excellent real estate partner.
CRE was formed by Cabot Lodge and Daniel Quai in 2013 as an independent principal real estate investment and advisory firm. It invests capital on behalf of institutional clients, asset managers, single and multi-family offices. CRE 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.
KME Group is one of the world's largest manufacturers of copper and copper alloy products, focused on rolled products, with a European footprint and worldwide distribution network.
CRE has substantial funds for immediate investment.
For more information on corporate sale leasebacks and build-to-suits, contact:
Thomas Reckers: +44 203 423 6304 or tr@crescendo-rep.com
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