Diok RealEstate AG has acquired an office building in Offenbach in the Rhine-Main region of Germany. The complex provides around 9,200m² of lettable area on a plot sized roughly 10,800m² and comes with a parking facility for 130 vehicles. It benefits from a central location and is conveniently accessible via the A3 motorway. The commute to downtown Frankfurt takes only 20 minutes. The net annual rental income amounts to c.€677,000 at the moment and shows rent upside potential assuming full occupancy and rent reviews. The purchase price was not disclosed.
Daniel L. Grosch, Member of the Board of Diok, commented: “This first property in the Rhine-Main region marks our entry in a market that is highly interesting to us. We assume that the asset will experience substantial appreciation in the medium term, which makes the price we negotiated quite attractive. We are already preparing our next acquisitions and are confident of our ability to keep delivering profitable growth. We will keep pursuing this strategy as a sustainable approach. The niche market for office buildings in Germany’s second-tier cities presents rather attractive opportunities that we can and will exploit on short notice via our efficient process flows. At the same time, we will collaborate with our service partners to create value-added through our day-to-day management.”
