Diok RealEstate has completed the purchase of several office properties located in Cologne and Magdeburg. The purchase price was not dislosed. The acquisitions, including the property in Gelsenkirchen, bring the company portfolio up to a combined floor area of around 89,000m². The fair market value of the entire portfolio totals c.€150m, assuming a 6% rate of return before leverage.
Markus Drews, Member of the Board of Diok, commented: “With the transactions now concluded we implemented the next steps of our growth trajectory as announced and planned. At the moment, we are in the process of examining and acquiring additional properties of interest to us. The market for office properties in secondary locations offers us a wide variety of options for a broadly diversified and therefore risk-reduced inventory that gathers individual assets together in a portfolio and thereby turns them into an institutional product. We are particularly proud of the achievements we accomplished before actually taking full possession. Our active management approach, paired with excellent service providers, enables us to reposition properties on short notice and thus to boost our rate of return. This makes our properties a compelling proposition not just for investors and banks but—and this matter most to us—even and especially for our tenants.”
