(Alliance News) - Sirius Real Estate Ltd on Tuesday said it bought three properties in Germany for a combined EUR45 million.
The Germany-focused operator of business parks, offices and industrial complexes said it used proceeds from a EUR400 million bond issue in June to make the acquisitions.
Sirius bought an office and two business parks in Frankfurt, Erfurt and Essen, respectively. They add 44,000 square metres of office and industrial space to its portfolio.
"Following our oversubscribed EUR400 million bond issuance in June, the business has retained its strong cash position, and remains well-placed to continue to deliver on an attractive pipeline of acquisition opportunities. These three assets provide a strong mix of industrial, production, storage and out of town office space - with occupier demand for these types of assets remaining robust - while providing further potential to create value and grow income through asset management, improving sustainability and the letting of vacant space," Chief Executive Andrew Coombs said.
Shares in the company were 0.9% lower at 134.20 pence each in London on Tuesday morning. In Johannesburg, the stock was largely flat at ZAR28.07.
By Eric Cunha; ericcunha@alliancenews.com
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Sirius Real Estate (SRE)