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Sirius Real Estate JV acquires German business park for €80m
StockMarketWire.com
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Sirius Real Estate said its Titanium joint venture with AXA IM Alts had acquired the Sigma Technopark in Augsburg, Germany for around €80 million from a fund managed by Corestate.
The acquisition upped the size of the Titanium portfolio to around €317 million, nearly double its value at launch in August of €168 million.
Sigma Technopark, to be rebranded as a Sirius business park, was a multi-tenanted business park comprising 113,000 square metres of space across a range of uses.
The park currently was 90% let to 74 tenants ranging in size from well-established blue chip corporates and public bodies through to SMEs and start-ups.
'It is a well located, large scale business park which offers both good quality day one income as well as an opportunity to grow rental income and create value through asset management,' Sirius chief executive Andrew Coombs said.
'Alongside AXA IM Alts we have strong ambitions to grow the Titanium portfolio significantly and have a strong pipeline of further opportunities that we continue to explore.'
Story provided by StockMarketWire.com
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