DGAP-News

Diok RealEstate AG: Diok RealEstate AG Expands its Life-Science Portfolio to Include the Campteq Innovation Campus near Darmstadt

DGAP-News: Diok RealEstate AG / Key word(s): Real Estate/Acquisition Diok RealEstate AG: Diok RealEstate AG Expands its Life-Science Portfolio to Include the Campteq Innovation Campus near Darmstadt 29.06.2022 / 07:22 The issuer is solely responsible for the content of this announcement. - Off-market acquisition of a multi-tenant research property measuring 13,600 square metres

- Anchor tenant from life science sector underscores acquisition strategy focused on science parks

- Acquisition brings total portfolio value up to over 227 million euros

- Additional science park acquisitions planned

Diok RealEstate AG (“DIOK”) has announced the completed acquisition of an 89.9-percent equity interest in the vehicle which owns the Campteq Innovation Campus property. This represents the company’s first acquisition since a private syndicate led by Alvarium Investments acquired a 49.9-percent interest in DIOK. By purchasing the Campteq Innovation Campus property, DIOK is continuing its established strategy to acquire assets in the science and technology space.

The property extends over nearly 13,600 square metres of lettable area. Its largest tenant is Azenta Life Sciences, which maintains one of Germany’s largest bio-storage facilities in the property. The property is currently tenant-occupied to about 60 percent and therefore offers considerable appreciation potential by raising the occupancy rate.

The fact that the property was acquired within the framework of an off-market transaction further demonstrates DIOK’s wide network. Together with its existing portfolio, the acquisition increases the value of DIOK’s property holdings to more than 227 million euros. The tenant base of the newly acquired property is dominated by blue-chip companies from the biotechnology and logistics sectors.

Financing for the acquisition was provided by a local bank. A fixed interest rate of just below 2.0 percent was granted for a ten-year term. The loan-to-value (LTV) ratio of the acquisition remains below the debt-to-equity ratio of DIOK and so contributes to the reduction of the company’s gearing ratio.