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 EUR 1.26 mln.
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 m2 generates an annual rent of EUR 1.26 mln.
