DEGI buys German offices for EUR 22.5 mln

DEGI, the real estate investment arm of German insurer Allianz Group, has purchased an office project in Bad Homburg near Frankfurt am Main for a total investment volume of around EUR 22.5 mln. The five-storey office building, comprising 7,800 m[sup]2[/sup] of lettable space and 236 parking spaces, is already let on long term agreements. The principal tenant is Bridgestone, which intends to relocate its German administrative headquarters in the building.

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