Germany-focused business park owner Sirius Real Estate is raising up to EUR20m by a private placement of new ordinary shares to fund various acquisitions.
Sirius Real Estate expects its dividend to rise 25% in the year to March thanks to new acquisitions and an effective capital expenditure programme.
Sirius Real Estate’s self-storage business performs strongly this year‚ supported by demand for space from consumers.
Germany-focused business park owner Sirius Real Estate is winning over South African institutions after taking up a secondary listing on the JSE at the end of last year.
Sirius Real Estate has completed the acquisition of two multi-let business parks located in Aachen and Bonn for a total consideration of €21.8 million, inclusive of acquisition costs.
Sirius Real Estate's listing on the JSE AltX is well supported, with 1.2-million of its shares trading in R7.3m worth of deals on its first day.

eProperty News is a leading online commercial property marketplace serving the Southern African Investment, Office, Retail and Industrial property and allied sectors.