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Vital Infrastructure Property Trust Completes German Asset Portfolio Sale

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Vital Infrastructure Property Trust (VITL-UN.TO) on Thursday said it completed the sale of its German asset portfolio.

The sale is part of its transaction involving the disposition of its 33-property portfolio in Germany and the Netherlands to TPG Real Estate, it said.

The Netherlands portion of the transaction closed on April 29, the company said.

The majority of Vital Infrastructure's regional employees in Europe has transitioned to TPG Real Estate as part of the transaction, added Vital Infrastructure Property Trust.

"The transaction marks a significant step in Vital Infrastructure's ongoing portfolio optimization strategy by simplifying our geographic footprint and increasing our focus on North American growth opportunities," said Chief Executive Officer Zach Vaughan.

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