TLG IMMOBILIEN AG has acquired a commercial property in Dresden, further expanding its portfolio in Saxony's capital. The purchase agreement for the downtown property was signed yesterday. The property was sold by private foreign owners for €10.3 mln.
The property has some 6,400 m² of let-able space, of which 5,700 m² are designated for office use and the remaining 700 m² for retail space.
The tenants include the City of Dresden and other companies with excellent credit ratings such as HUK Coburg and SEB AG. With a current vacancy rate of just 4%, the property is almost entirely let.
"With this acquisition, TLG IMMOBILIEN continues to expand its strong presence in Dresden's city center", said Niclas Karoff, member of TLG IMMOBILIEN AG's Management Board. In addition to other properties such as the Zwingerforum at Postplatz, the Wilsdruffer Kubus, the Am Wall commercial property and the Margonhaus, this acquisition represents an ideal expansion of TLG IMMOBILIEN's portfolio within the "26 ring road" encircling the city center.”