DIC Asset acquires Leverkusen office for €51m

German asset manager DIC Asset has acquired an office building in the city of Leverkusen from the project's developer, Landmarken, for €51 mln.

Completed in early 2018, the 13,300 m2 asset includes 301 parking spaces.

'Leverkusen is a city with economic potential, and therefore goes very well with the strategic alignment of our commercial portfolio,' said Sonja Wärntges, CEO of DIC Asset.

'The objective we are pursuing with the acquisition of the property is to supplement the portfolio with optimal yield opportunities and to boost its growth. The next acquisitions are already in the pipeline.'

Located in Leverkusen-Mitte, the asset is fully occupied on a long-term lease by Pronova BKK, a large German health insurer, which has pooled 640 employees from different locations in the property. The weighted average lease term (WALT) is 16.76 years.

BNP Paribas Real Estate facilitated the deal.


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