Duisburg: SDK buys “Five Boats”
Süddeutsche Krankenversicherung (SDK) is acquiring the “Five Boats” office building in Duisburg’s inner harbor area. TD published an exclusive report in July that Hannover Leasing had sold the property, which has 23,500 sqm of lettable space and is fully let. It has now been disclosed that the purchase price amounted to €65mn. This is SDK’s third purchase this year as part of its newly formulated real estate strategy from 2017, focusing on office and residential investments with long-term holding periods in German primary and secondary cities. Düsseldorf-based Bechtolsheim Real Estate brokered the transaction on behalf of the owner. SDK was advised by the Stuttgart investment managing firm Albrings + Müller, which has also assisted in the development of the SDK real estate portfolio. Clifford Chance provided legal and tax assistance.
Subscribers to our premium service have access to this article in full as well as to an additional 510,000+ news items: all filterable by topic, company, asset class, city or keyword. In TD Premium you can search for investment deals, leases, current project developments and company news with pinpoint accuracy.
TD Premium is Germany’s leading property information tool that interconnects news, transactions, project data, market and company information in a unique and flexible system.