Diok RealEstate has signed sale and purchase agreements for three office buildings in Cologne, Gelsenkirchen and Magdeburg, thus resuming the company’s brisk growth and bringing its portfolio total up to €150m.
The two office buildings in North Rhine-Westphalia are located in Cologne and Gelsenkirchen and are let on long-term leases to an occupier from the technology sector (Cologne) and from the public sector (Gelsenkirchen), respectively. The property in Magdeburg still shows vacancies, which is to be rolled back through its active asset management by Diok RealEstate in the near future. The WALT at the properties currently equals 4.3 years, the average rent being €9.49 per square metre and month.
Markus Drews, Member of the Board of Diok, commented: “We are consistently implementing our growth strategy. The accelerated transaction frequency has made us more prominent in the public eye. The increased visibility has helped us both with acquisitions in secondary locations and with the awareness of us as a company or of our corporate bond on the capital market. Our strategy of buying high-quality property on a scale of €5m to €25m in secondary locations has enabled us to build up a risk-diversified and high-yield portfolio that is both a robust basis for our noteholders and will be highly interesting for potential buyers.”
