DIC buys new Leverkusen office building for €51m

DIC Asset AG has acquired a fully-leased office property in Leverkusen-Mitte for €51m. The office building, which was completed in early 2018, offers a GLA of around 13,300 square metres and includes 301 parking spots. The building’s anchor tenant is one of Germany`s largest health insurance companies, which moved around 640 employees into the building shortly after its opening from locations in Cologne, Leverkusen and Remscheid. The weighted average lease term (WALT) is 16.76 years. The property was sold by the project developer Landmarken AG.
“Leverkusen is a city with economic potential, and therefore goes very well with the strategic alignment of our Commercial Portfolio. 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. It is here that we benefit from our sound regional market access. The next acquisitions are already in the pipeline,” said Sonja Wärntges, CEO of DIC Asset AG.