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Dream Global to buy 2 German office assets for €107M

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Dream Global to buy 2 German office assets for €107M

Diversified real estate investment trust Dream Global REIT agreed to purchase two German office properties for €106.7 million.

The company is expected to close on the 400,000-square-foot Podbi Park in Hannover and the 132,000-square-foot Handwerkstrasse 5-7 in Stuttgart during the third quarter.

In addition, the company spent €54 million to buy five properties during the second quarter, and sold three German and two Dutch properties for €10.1 million.

The acquired assets include the 129,000-square-foot Atoomweg 100 office building in Utrecht in the Netherlands, and Sirius and Orion, a pair of core office assets in The Hague, also in the Netherlands. The company also purchased the 205,000-square-foot Europa Logistics property in Bremerhaven, Germany.