CORESTATE Capital sells commercial real estate portfolio of Deutsche Telekom AG (DE)

CORESTATE Capital announces its sale of a German portfolio of commercial real estate to DEMIRE Deutsche Mittelstand Real Estate AG.
The six office buildings included in the portfolio are located in Ansbach, Bonn, Flensburg, Freiburg, Regensburg and Stahnsdorf near Berlin, and are let to Deutsche Telekom AG on long-term leases.
The portfolio has a combined lettable area of 144,000 m² plus 1,170 underground and surface parking spots. The net annual rent, excluding utilities and based on the properties’ current full occupancy, amounts to roughly €14.8 mln. CORESTATE Capital acquired the portfolio in May 2013.
Source: BusinessNetwork