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.
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