Diok RealEstate has acquired two fully-occupied office buildings in Aachen and Wurselen, Germany. The office scheme in Aachen is the “Engineering Park Aachen” (EPA) which extends over 10,833m² of lettable area and includes around 200 parking spots. Anchor tenant is a subsidiary of the utility company STEAG. The building is located in the vicinity of the Melaten campus of the RWTH Aachen University of Technology and is characterised, in addition to its superb location, by its high-end building fit-out and equipment. The current annual net rent amounts to just over €1.1m and shows further rent potential.
The office scheme in Wurselen is located directly in the tristate area where the borders of Belgium, Germany and the Netherlands meet and the A4 and A44 motorways intersect. It provides more than 6,212m² of lettable area plus nearly 100 parking spots. The entire building is let to TravelTainment, a subsidiary of Amadeus IT Group. The current annual net rent equals over €416,000.
Both properties were acquired through off-market transactions.
Markus Drews, Member of the Board of DIOK, said: “We demonstrated impressively that we were able to achieve our growth targets as planned. In the ongoing financial year of 2019, we will consistently keep pursuing our strategy of investing in premium office properties in second-tier cities in Germany that promise above-average returns. Our qualified network enables us to identify interesting investment opportunities with highly attractive risk-return profiles on a regular basis. With our latest acquisitions, we are moreover expanding in the prospering region of Aachen, and the acquisition of two buildings located in relatively close proximity of each other will let us exploit synergy effects. Our deal pipeline is auspicious, and a growing number of transactions is bound to make us yet more visible for multipliers and investors. With this in mind, we are confident of our ability to not just continue, but accelerate, our growth in 2019.”
