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Cording buys 10 office properties from DIC Asset AG for €143 million

Cording Real Estate Group, acting upon instructions from a joint venture between the Danish fund manager, Sparinvest Property Investors, and Esas Properties, a group company of Esas Holding of Turkey, has acquired a portfolio of German office properties. The vendor of the package of properties, which changed hands for around €143 million, is DIC Asset AG. Cording acted as investment advisor on the transaction and is taking over the asset and property management of the portfolio.The portfolio comprises of 10 assets in eight different German cities. There is one property each in Hamburg, Cologne, Ulm, Kassel and Brunswick (Braunschweig), and two each in Mannheim and Erlangen. The total lettable area of the portfolio is around 100,000 sq m,...[…]
Photos: BNPPRE