Rowan Asset Management has acquired two new properties in Germany - with a third in the pipeline - for EUR 20 mln. The properties, totalling 10,000 m2, are all in or around Bonn and let to national and multinational retailers for terms of 10 to 15 years. They were secured on an off-market basis during December 2006 and are expected to end up in one of the German funds managed by Rowan.
As Ares completed a €325 mln French logistics acquisition from Blackstone, another French portfolio came onto the market.
