The Royal Bank of Scotland (RBS) has reportedly sold a logistics portfolio to an unnamed Luxembourg firm advised by UBS. The financial details of this transaction were not disclosed. The portfolio includes some 172,000 m[sup]2[/sup] of floor space across three properties located in the German cities of Cologne, Frechen and Neuss. According to German property magazine Thomas Daily, the properties are rented to department store chain Galeria Kaufhof. RBS was advised by White & Case. The bank bought the portfolio in December 2007 in a sale-and-leaseback transaction.
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