April 26, 2024

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[THE INVESTOR] Meritz Securities has signed a contract to purchase Deutsche Telekom’s headquarters in Bonn for 213.4 million euros (US$237.24 million) on Sept. 30, according to news reports on Oct. 6.

The South Korean securities firm will jointly invest 112 billion won with other local partners including Kiwoom Securities and sell part of the stake to South Korean insurance companies and pensions. The remaining 152 billion won will be funded by a loan from a German bank, at an interest rate slightly over 1 percent. 

The office block consists of eight seven-story buildings (two stories underground, five aboveground) with 82,570 square meter gross area, and Deutsche Telekom is the sole occupant with a lease that expires in 2031. The lease contract will be maintained.

Mertiz, with KB Investment and Securities, is also considering acquiring real estate leased to about 40 Wal-Mart outlets across the US for US$525 million. They have signed a conditional sales and purchase agreement.

By Hwang You-mee (glamazon@heraldcorp.com)