SDK buys Frankfurt-area “Quattro” office building
Süddeutsche Krankenversicherung (SDK) has purchased the “Quattro” office building in Neu-Isenburg from a special purpose company of Verianos AG. The property has 7,000 sqm of lettable space and is almost fully occupied. It is SDK’s first acquisition this year, raising the company’s assets under management to over €200mn. BNP Paribas Real Estate brokered on behalf of the owner. SDK was advised in legal and tax matters by Clifford Chance; the seller was advised by Dr. May & Partner. SDK plans to purchase residential and office properties throughout Germany this year for a further €150mn to €200mn, including in regions and submarkets of A and B cities as well as in attractive C cities. The Stuttgart-based investment manager albrings + müller is advising SDK on implementation of its acquisition strategy.
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