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DIC Asset picks up German office building for €51M

DIC Asset AG paid roughly €51 million to acquire an office property in Leverkusen-Mitte, Germany, from project developer Landmarken AG.

The fully occupied 13,300-square-meter property was completed in early 2018 and is anchored by health insurance company pronova BKK. It also includes 301 parking spaces and has a weighted average lease term of 16.76 years.

The acquisition is in line with the company's strategic alignment of its commercial portfolio, DIC CEO Sonja Wärntges said.