AIM-listed real estate company Deutsche Land has announced it intends to raise about EUR 75 mln through the issue of new shares to finance its ongoing investment programme. The move follows the EUR 217 mln acquisition of the Frankfurt Airport's Main Airport Center on 2 January.
AIM-listed real estate company Deutsche Land has announced it intends to raise about EUR 75 mln through the issue of new shares to finance its ongoing investment programme. The move follows the EUR 217 mln acquisition of the Frankfurt Airport's Main Airport Center on 2 January.
In a statement issued after an extraordinary meeting on Tuesday, the German property company said its shareholders approved the proposed Frankfurt Airport purchase. The new Main Airport Centre (MAC) office complex at Frankfurt Airport has 55,000 m2 of Grade A office space and its tenants include Lufthansa and Dell.
'We are confident that there is a strong pipeline of further investment opportunities in Germany which will offer shareholders both income and capital growth,' Deutsche Land's ceo David Maxwell said.
