Demire Deutsche Mittelstand Real Estate has sold an office building located in Stahnsdorf for €24.4m. The scheme comprises 17,110m² and is fully let to Deutsche Telekom. The company has also disposed of four other office and retail properties in Bremen, Rendsburg, Wahlstedt and Wurzen. The assets were sold in separate transactions. The aim of these sales is to focus the portfolio more strongly on institutional property sizes, a criterion not met by the latest small properties sold, which had an average value of €1.9m. This programme will increase the average property size of the portfolio while reducing the administrative burden.
Ingo Hartlief, CEO of Demire AG, said: "The REALize Potential strategy envisages a boost to the portfolio's activity, as well as further institutionalisation of the portfolio, in addition to the last reported purchases. We are pleased to announce the first successes in the implementation of the sales. The prices achieved emphatically demonstrate not only the conservative valuation of our real estate but also that we are successful in fully realising the real value potential. We will use the sales proceeds for Demire’s continued growth."