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Becken sells Offenbach office project development "Unite Offices" to DIC Asset AG

• Transaction of around EUR 80 million as part of a forward deal
• Office ensemble with around 13,300 square meters of rental space and its own parking garage is 100 percent pre-let to AXA Insurance Group and Regus
• The first two components will be completed in the 1st quarter of 2020, the third component in the 4th quarter 2021

Hamburg, November 28, 2019. The project developer Becken, which operates throughout Germany, has contractually secured the sale of its Offenbach project development "Unite Offices" to DIC Asset AG as part of a forward deal. The purchase price was around EUR 80 million. By the 4th quarter of 2021, Becken will have completed a prestigious ensemble of two office buildings and a multi-storey parking lot on an 8,860 square meter site at Berliner Strasse 300 in Offenbach's Kaiserlei district. The rental space of the two office properties covers around 13,300 square meters. The six-storey "Unite Offices I" will be completed in the first quarter of 2020 and is fully let to AXA Konzern AG with 11,000 square meters. Construction work on the four-storey "Unite Offices II" will begin in the first quarter of 2020. fully pre-let to the flexible office provider Regus, a brand of the International Working Group (IWG). The rental space amounts to 2.300 square meters. The third building, a multi-storey parking lot with 300 parking spaces, will also be completed in Q1 2020.

Dominik Tenhumberg, Managing Director of Becken Development GmbH, says: "The fact that we were able to place our first project development in Offenbach with a well-known German investor at such an early stage confirms the quality and value that we prioritize in all our projects." The special features of the high-quality office ensemble include the flexible layout of the floors, which also allows it to be let to several office tenants, the high quality of the location as an ideal interface between Frankfurt am Main and Offenbach as well as the excellent transport links directly to the Kaiserlei S-Bahn station and the federal highway 661, with the Offenbach-Kaiserlei junction.

The transaction was accompanied by Cushman & Wakefield. Wiegel Ihde Ekrutt + Partner mbB Rechtsanwälte Steuerberater Wirtschaftsprüfer and WALCH RITTBERG NAGEL Rechtsanwälte und Steuerberater Partnerschaft mbB acted as legal and tax advisors.