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Diok RealEstate AG: Diok RealEstate AG makes substantial portfolio improvements
DGAP-News: Diok RealEstate AG / Key word(s): Real Estate Diok RealEstate AG (DIOK) has signed an agreement with a long-term tenant of a property in its portfolio to extend its lease by another 10 years, while at the same time also agreeing a rent increase that will take effect as at 1 November 2018. From this date onwards, the annualised net in-place rent for all properties in DIOK’s current portfolio will increase to approx. EUR 3,300,000 p.a.
DIOK is currently the owner of six properties in Hattingen, Bochum, Neuss (North Rhine-Westphalia), Ulm (two properties) and Freiberg am Neckar (Baden-Württemberg). The total area of all its properties is around 32,200 m². The properties were acquired off-market and have a market value of EUR 52,750,000. They are subject to long-term financing. BF.direkt AG, Stuttgart, was the arranger for the structured financing. Legal consulting was provided by Heuking Kühn Lüer Wojtek, Cologne. Daniel L. Grosch, Diok’s CEO, said: “The progress made in our portfolio confirms the capabilities of our external service providers and our internal expertise in the successful management and appreciation of office properties in secondary locations. The rapid settlement of our initial transactions also enabled us to demonstrate our strengths. Every step in the process is perfectly coordinated and clearly defined. The financing arranged by BF.direkt AG was also agreed and paid out unusually quickly. Transaction security and speed are key success factors, especially when it comes to acquiring properties in secondary locations. Our many years of experience and our competent partners allow us to guarantee both these factors. This is just one thing that gives us a competitive edge in an attractive property market.” Further information: www.diok-realestate.de Contact: Diok RealEstate AG
About Diok RealEstate AG Diok RealEstate AG (DIOK) is a Cologne-based real estate company specialising in German office properties. The company focuses on the development of an attractive office property portfolio in good or very good micro-locations of secondary locations. All personnel-intensive activities have been fully assigned to third parties and are monitored and managed by DIOK. As an active portfolio and asset manager, DIOK thereby generates a steady increase in value and positive cash flow right from the very first day. By means of a well-filled acquisition pipeline, DIOK aims to develop a property portfolio of EUR1 billion in the medium term.
03.09.2018 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |