Cibus Nordic Real Estate - food and grocery retail real estate investment company

The percentage return is certainly in the same ballpark, but the absolute euro amount will increase significantly. The biggest benefit from growth comes with loan leverage, as a larger mass can be utilized as collateral for new acquisitions.

There has been a lot of negative experience with expansions into Germany at many points. When companies have gone there, it has either become expensive or they haven’t been able to get things going. Larger examples include various network frequency purchases, Fortum & Uniper, Kamux, etc. In addition, among my own small unlisted holdings, there is a direct equivalent that almost brought down the entire operation. Perhaps some successes can be found there, but none come to mind right now :sweat_smile:

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