Alstria Office Reit takeover of DO Deutsche Office

Overview:

• German property group Alstria Office Reit has taken over DO Deutsche Office, creating Germany's largest commercial real estate business with €3.5 billion in assets. 
• Alstria, the first Reit launched in Germany, acquired Deutsche Office through an €800 million all-share deal.  
• Under the terms of the agreement, Deutsche Office shareholders will receive one share in Alstria for every 2.625 shares they hold in the target. 
• US investor Oaktree held 60.54% of Deutsche Office's stock. 
• Since the takeover, Alstria has issued €1 billion in bonds in two tranches to refinance Deutsche Office's bank debt. 

Ben Naylor - Regional Editor