Canadian Dundee International has announced that it acquired Oasis III, an office property in Stuttgart, Germany at the end of Q3 for $43.4 million (approx. €31 million). Oasis III is located on the north side of Stuttgart and gives tenants excellent transportation options.
Dundee International REIT surpassed $1.0 billion of high quality acquisitions for 2013 at an average cap rate of 6.7% and an average borrowing rate of 2.6%, continuing its growth in top office markets in Germany. Q3 2013 marked another quarter of strong occupancy growth, highlighting the Trust’s focus on asset management through its local operations team in Europe.
Source: Dundee International