CLS Holdings plc (LSE:CLI) entered into an agreement to acquire to acquire a portfolio of twelve properties in Germany from Züblin Immobilien Holding AG (SWX:ZUBN) for approximately €150 million on June 13, 2017. The acquisition will be financed from internal resources, is expected to be refinanced in part with bank debt in due course. The portfolio consists of Albert-Einstein-Ring 17-21 in Hamburg, Nagelsweg 37-39 in Hamburg, Wandsbeker Zollstraße 11-19 in Hamburg. Roßstraße 96 in Düsseldorf, Hansastraße 2 in Dortmund, Markstraße 2 in Witten, Marler Stern 1-80 in Marl, Vom dem Lauch 14 in Stuttgart, Mittlerer Pfad 2-4 in Stuttgart, Mittlerer Pfad 9 in Stuttgart, Streiflacher Straße 7, Munich in Kreuzberger Ring 24 in Wiesbaden. The portfolio had generated a net rent of €10.1 million in the year 2016. The deal is expected to close by the end of September 2017. The proceeds are to be used for selected investment opportunities and to secure further value-adding growth.

Richard Crawley and Jamie Richards of Liberum Capital Limited, Dominic Morley and Andrew Potts of Panmure Gordon (UK) Limited, Jonathan Gray of Elm Square Advisers Limited acted as the financial advisor for CLS Holdings. Alex Simmons of Smithfield Consultants acted as the public relations advisor for CLS Holdings. Alexander Peinze, Jan Riebeling, Daniel Graske, Sven Kahlert, Hannes Tutt, Sven Kahlert, Hannes Tutt, Gulliver Nosal, Dieter Lang, Alexander Senninger and Christine Hepp of Taylor Wessing Germany acted as legal advisor for CLS Holdings. Gerold Jaeger, Alexander Shemyakin, Jonathan Klein, Uwe Schimmelschmidt, Cord Freiherr v. Mandelsloh, Dominik Thomer, Christoph Holstein, Werner Brickwedde, Torben Lührmann, Florian Mahler and Bahar Rahimyar of Clifford Chance in Germany acted as legal advisor to Züblin Immobilien Holding AG.