Germany's DIC Asset has acquired an office property in Munich and a complex of three buildings in Eschborn, for over 鈧�100 mln.
The fully-let asset at Neumarkter Strasse in Munich's Berg am Laim district covers a lettable area of 18,300 m2, plus 247 parking spots.
The ensemble of three office buildings on Frankfurter Strasse / Alfred-Herrhausen-Allee in Eschborn, a northern suburb of Frankfurt am Main, is 93% occupied. The complex has a gross lettable area of around 19,200 m2 along with 520 parking spots. The anchor tenant of this multi-tenant property is Deutsche Bank. The vendor is a joint venture between Phoenix Real Estate and Art-Invest Real Estate.
In addition, the company announced it has moved forward with its plan to wind up its joint-venture assets that no longer match the strategic orientation of DIC Asset. The company sold a property on Langenhorner Chaussee in Hamburg and another property on Adolph-Prior-Strasse in Frankfurt for a total of 鈧�22.6 mln.
'By selling the two assets in Hamburg and Frankfurt, respectively, we made good progress with the ongoing wind-up of our joint-venture participations, and will now intensify our focus on implementing the strategy we pursue in our core business,鈥� said Sonja W盲rntges, CEO of DIC Asset AG.
Colliers International Deutschland plus BNP Real Estate and GSK Stockmann advised the company on the acquisitions. Hinsch & V枚lckers Hamburg and Colliers International Frankfurt as well as php Frankfurt acted as advisers on the sales.
