Sirius invests €84.8m in German mixed-use portfolio
Sirius Real Estate has completed the acquisition of four business parks and one land parcel for a total of approximately €84.8 million ($99.22 million). The properties are located in Oberhausen, Frankfurt, Heiligenhaus and Ohringen and offer more than 150,000 square meters (1.6 million square feet) of lettable space. In addition, the company has acquired a land parcel adjacent to its existing asset in Neuruppin.
With 62,000 square meters (667,362 square feet) of vacant space, the assets provide an opportunity to grow income through the letting up of vacant space, accretive refurbishment and selective development.
Andrew Coombs, CEO of Sirius Real Estate, said, “With our strong cash position, Sirius continues to deliver on an attractive pipeline of opportunities generated by our in-house acquisitions team. The new assets provide a mix of warehouse, production and office space that we know works well for our platform and our customers. The assets are in well-estab