German commercial real estate developer VIB Vermögen has acquired two office properties in Mannheim and Offenbach from Branicks Group's commercial portfolio.
The properties in question are a multi-tenant property in Mannheim, Käfertalerstrasse 258, and the Stadthaus Offenbach, Berliner Strasse 60. The City of Offenbach is the sole tenant of the latter. The total rental space of both properties is 27,838 m2 with a total annual rent of around €3.8 mln.
The properties were acquired as part of a share deal. The closing took place at the end of September.
Dirk Oehme, CEO of VIB Vermögen, commented: ‘With the acquisition of the two fully let office properties in Mannheim and Offenbach, VIB is continuing to broaden its regional base and its growth course in the office asset class. This is a further consistent step in our strategy towards a balanced asset class mix of office, logistics, and light industrial.’
VIB Vermögen is specialised in the development, acquisition, and management of modern and sustainably profitable logistics, light industrial, and office assets. The company acquires properties that are already let and also develops new properties from scratch in order to incorporate them into its own portfolio on a permanent basis.
