Singapore investor buys European real estate company

Frasers Property International, the wholly-owned subsidiary of Frasers Centrepoint, has plans to acquire a 86.56 percent stake in Geneba Properties N.V. for €315.9 million ($336.2 million) from Catalyst RE Coöperatief U.A.

Following the acquisition, Frasers Property has also agreed to make an all-cash offer for the remaining 13.44 percent free-float interest in Geneba.

The portfolio comprises long-lease logistics and industrial assets in Germany and the Netherlands.