Swiss investor Corestate Capital has sold a German portfolio of commercial real estate let to Deutsche Telekom to German listed firm Demire Deutsche Mittelstand Real Estate for an undisclosed amount.

Swiss investor Corestate Capital has sold a German portfolio of commercial real estate let to Deutsche Telekom to German listed firm Demire Deutsche Mittelstand Real Estate for an undisclosed amount.

The six office buildings included in the portfolio are located in Ansbach, Bonn, Flensburg, Freiburg, Regensburg and Stahnsdorf near Berlin, and are let on long-term leases.

The portfolio provides 144,000 m2 of total lettable area plus 1,170 underground and surface parking spots. It generates roughly €14.8 mln of annual rents and was bought by Corestate in May 2013.

'Using sound timing, appropriate asset management measures and securitised debt, we managed to ensure sustainable rent revenues and to optimise the cost-income ratio,' said Sascha Wilhelm, chief operating officer of Corestate Capital. 'Going forward, we will continue to handle the asset management for the portfolio, and facilitate the strategic alignment of the new owner.'