Diok RealEstate AG: Diok RealEstate AG Acquires its First Asset in the Rhine-Main Region

- DIOK buys property with further capital appreciation potential in Offenbach

- All past transactions completely finalised, including the one Gelsenkirchen

Cologne, 19 November 2019 - Diok RealEstate AG (DIOK) yesterday signed a sale and purchase agreement for an office building in Offenbach (Rhine-Main region).

The building is centrally located in Offenbach and very conveniently accessible via the A3 motorway. The commute to downtown Frankfurt takes only 20 minutes. The building provides around 9,200 sqm of lettable area on a plot sized roughly 10,800 sqm. It also comes with 130 surface parking spots. The net annual rental income equals c. EUR 677,000.00 at the moment and shows rent upside potential assuming full occupancy and rent reviews.

Finalising the settlement of this acquisition will bring the total value of DIOK's portfolio up to c. EUR 162,000,000.00 and its total lettable area up to around 98,000 sqm with a WALT of about 6 years and c. EUR 9,600,000.00 or c. EUR 8.56/sqm in annual basic rent net of service charges. The off-market transaction is expected to be completed before the end of the year. The seller of the property is a German family office.

Daniel L. Grosch, Member of the Board of DIOK: "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."

More details: www.diok-realestate.de

Press Contact:
Diok RealEstate AG
c/o RUECKERCONSULT
Peter Dietze-Felberg
T +49 (30) 28 44 987 62
E dietze@rueckerconsult.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.