DIC Asset AG Acquires Office Property In Cologne From TPG Real Estate
SOLD
$267,000,000
North Rhine Westphalia
See Similar DealsOffice
Sold 12/09/2021
SOLD
DIC Asset AG Acquires Office Property In Cologne From TPG Real Estate
Josef Lammerting Allee, Köln, Köln, Germany
See Similar DealsOffice
Sold 12/09/2021
Summary
Asset Type:Office
Transaction Type:Sale
DIC Asset AG, led by Sonja Wärntges, has completed the acquisition of an office property in Cologne, Germany. The property, located at Josef-Lammerting-Allee 24, Maarweg 149/161, and Eupener Str. 125 in Cologne, offers a prime office space in a strategic location. The transaction was closed on September 12, 2021.
Summary of transaction details
- Property Type: Office
- Transaction Amount: €267,000,000
- Address: Josef-Lammerting-Allee 24, Maarweg 149/161, and Eupener Str. 125, 50933 Köln, Germany
- Buyer: DIC Asset AG - Sonja Wärntges
- Seller: TPG Real Estate
DIC Asset AG, represented by Sonja Wärntges, acted as the purchaser in this significant real estate transaction. The acquisition showcases DIC Asset AG's commitment to expanding its portfolio and strengthening its presence in the German market.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$14,239,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$948,594.61
Cash-on-Cash Return-1.27%
Monthly Debt Service$1,265,716.22
Annual Debt Service$15,188,594.60
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