Dawnay Day Sirius (DDS), a real estate company established by Dawnay Day and Sirius Facilities to focus on German commercial real estate, has completed the acquisition of 20 properties with 390,000 m[sup]2[/sup] of combined lettable space. The properties, representing the company's initial portfolio, have been independently valued by property advisor DTZ at EUR 206 mln. They generate an annual net rental income of about EUR 13 mln and a net initial yield of 6.3%. The company announced its intention to acquire the portfolio at the time of its IPO in May 2007.
Dawnay Day Sirius (DDS), a real estate company established by Dawnay Day and Sirius Facilities to focus on German commercial real estate, has completed the acquisition of 20 properties with 390,000 m2 of combined lettable space. The properties, representing the company's initial portfolio, have been independently valued by property advisor DTZ at EUR 206 mln. They generate an annual net rental income of about EUR 13 mln and a net initial yield of 6.3%. The company announced its intention to acquire the portfolio at the time of its IPO in May 2007.
Kevin Oppenheim, asset manager at DDS said that in addition to acquiring the initial portfolio, the company has a significant pipeline of further acquisitions totalling EUR 400 mln.
