POLIS Immobilien AG has acquired an office and retail building with some 11,000 m² of lettable space close to its headquarter in the west of the Berlin city center. The building is almost fully let, most of the space used by a nationwide consulting firm with more than five years remaining on the lease. The transfer of ownership is scheduled for the end of the third quarter of 2013.
POLIS Immobilien AG and the seller agreed to treat the details of the transaction confidentially. 60% of the purchase price was debt financed, with own funds used to finance the rest. The purchase will increase POLIS’ investment volume by approx. 10%, and the company’s operating figures will increase further in the course of the fiscal year. As repeatedly announced by the company, POLIS has an equity ratio of 48% as well as considerable liquidity reserves, which are earmarked for imminent acquisitions. The company’s own funds are sufficient to finance further purchases even after the latest transaction.
Source: POLIS Immobilien AG