Cording Real Estate Group acquired a portfolio of German office properties from DIC Asset for €143m. Cording acted as an investment advisor upon instructions from a joint venture between Sparinvest Property Investors and Esas Properties on the transaction. Cording will take over the asset and property management of the portfolio, which comprises of 10 assets in Hamburg, Cologne, Ulm, Kassel and Brunswick, Mannheim and Erlangen. The total leasable area of the portfolio is around 100,000 sqm, of which more than 90 percent is office space. Tenants include Siemens, Deutsche and Nokia Solutions Networks.
