Buys cost­ing €24.5m com­pleted

The Star Early Edition - - COMPANIES -

SIRIUS Real Es­tate, the listed op­er­a­tor of branded busi­ness parks in Ger­many, has com­pleted the ac­qui­si­tion of two prop­er­ties for a com­bined cost of €24.5 mil­lion (R368m). The group said yes­ter­day that on July 1 it had com­pleted the ac­qui­si­tion of Ber­linMahls­dorf II, a mixed-use build­ing in a com­mer­cial area 15km east of the cen­tre of Ber­lin and ad­ja­cent to an ex­ist­ing Sirius site in Ber­lin-Mahls­dorf, for €6.4m, in­clud­ing ac­qui­si­tion costs. On the same date, it had also com­pleted the ac­qui­si­tion of Gras­brunn, four of­fice build­ings pro­vid­ing to­tal space of 14 791m² close to Mu­nich, for €18.1m, in­clud­ing ac­qui­si­tion costs. The trans­ac­tions will be funded from the pro­ceeds re­ceived from re­cent dis­pos­als of ma­ture as­sets. An­drew Coombs, the chief ex­ec­u­tive of Sirius Real Es­tate, said it was pleas­ing to be able to re­cy­cle the eq­uity re­leased from the re­cent dis­pos­als into th­ese two ex­cel­lent as­sets, which have strong po­ten­tial. – Roy Cokayne

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