DGAP-News: Diok RealEstate AG: Diok RealEstate AG Successfully Closes Transaction for Property in Downtown Essen
DGAP-News: Diok RealEstate AG / Key word(s): Real Estate/Acquisition
Diok RealEstate AG: Diok RealEstate AG Successfully Closes Transaction for Property in Downtown Essen
17.12.2018 / 07:43
The issuer is solely responsible for the content of this announcement.
Cologne, 17 December 2018 - On Friday, 14 December 2018, Diok RealEstate AG (Diok) concluded its acquisition of an office building in Essen, a major city in the Ruhr. The company managed to secure a long-term financing arrangement at 1.48% interest for the transaction. The entire building is let for at least seven years plus renewal options to an M-Dax-listed energy conglomerate. It is located in the inner city of Essen, provides around 7,000 sqm of lettable area and generates EUR 615,000 in annual net rent.
The acquisition brings the annualised net rent of the DIOK portfolio up to c. EUR 3.95 million per year, the total market value up to EUR 63.25 million and the total floor area up to around 40,000 square metres.
Daniel L. Grosch, Member of the Board of Diok, said: "The successful completion of this purchase marks another step in the consistent expansion of our portfolio as planned. It also added another large German corporate group to our rent roll of long-term tenants. The next acquisitions of highly profitable office properties occupied by renowned tenants are already in preparation."
More details: www.diok-realestate.de
Contact:
Diok RealEstate AG
Daniel L. Grosch, Member of the Board
T +49 (221) 80 14 98 00
F +49 (221) 80 14 98 11
E info@diok-realestate.de
About Diok RealEstate AG
Diok RealEstate AG (DIOK) is a property company based in Cologne that specialises in German office real estate. The company's business focuses on setting up an attractive portfolio of office properties in good to excellent micro-environments of tier two cities. Labour-intensive activities have been outsourced in their entirety to third parties while remaining subject to DIOK's supervision and control. As an active portfolio and asset manager, DIOK thus achieves a steady capital growth and a positive cash flow from day one. In the medium term, DIOK intends to use its well-filled acquisition pipeline to build up a real estate portfolio worth EUR 1 billion.
17.12.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
Language:
English
Company:
Diok RealEstate AG
Von-Werth-Str. 1
50670 Köln
Germany
Phone:
+49 (0)22180149800
Internet:
www.diok-realestate.de
ISIN:
DE000A2NBY22
WKN:
A2NBY2
Listed:
Regulated Unofficial Market in Frankfurt
End of News
DGAP News Service
758681 17.12.2018