PropertyEU

Develica Deutschland buys office portfolio

By A staff reporter 2007-06-04T00:00:00

Develica Deutschland said it has acquired a portfolio of five office buildings in Mannheim, southwestern Germany for EUR 19 mln, including costs. The transaction reflects a net yield of 7%. The offices are let predominantly to international corporations. The total lettable space of 17,000 m[sup]2[/sup] generates an annual rent of ...

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