DGAP-News: TLG IMMOBILIEN AG
/ Key word(s): Disposal/Real Estate
TLG IMMOBILIEN ANNOUNCES SUCCESSFUL DISPOSAL OF RETAIL PROPERTIES
Berlin, 28 June 2020 - TLG IMMOBILIEN AG (the "Company" and together with its subsidiaries "TLG") successfully signed the disposal of a retail property portfolio for the amount of approx. EUR 190 m and a further retail property portfolio for approx. EUR 300 m for which the buyer has a discretionary rescission right until August 31, 2020. The sales follow TLG's strategy to focus on core assets of mainly offices in top German cities and to pursue disposals of non-core properties. The retail properties are located across Germany and were sold at a multiple of 15x and over book value. The freed-up funds and resources strengthen the Company's liquidity and capital structure.
Furthermore, TLG is in negotiations to dispose further retail properties at around EUR 100 m in various locations across Germany.
TLG IMMOBILIEN AG
Phone: +49 30 2470 6355
About TLG IMMOBILIEN
For over 25 years, the listed company TLG IMMOBILIEN AG has owned and rented out commercial properties in selected promising locations in Germany. The company continuously develops its portfolio and actively generates value through strategic investments and selected property acquisitions. As at 31 March 2020, its portfolio contains properties worth EUR 4.9 bn. As at the same reporting date, the adjusted EPRA Net Asset Value per share amounted to EUR 33.99. The portfolio comprises office properties in cities including Berlin, Dresden, Frankfurt/Main, Leipzig and Rostock. It also contains a regionally diversified portfolio of retail properties, primarily in the neighbourhood shopping segment, in promising micro-locations as well as seven hotels in top central locations. The properties of TLG IMMOBILIEN AG stand out not only due to their excellent locations but also because of their long-term rental or lease agreements. Its highly qualified employees guarantee extensive local market expertise at its individual locations.
This publication constitutes neither an offer to sell nor an invitation to buy securities.
This publication contains forward-looking statements based on current views and assumptions of TLG IMMOBILIEN AG's management and made to the best of knowledge. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause TLG IMMOBILIEN AG's revenues, profitability or the degree to which it performs or achieves its targets, to materially deviate from what is explicitly or implicitly stated or described in this publication. Therefore, persons who obtain possession of this publication should not rely on such forward-looking statements. TLG IMMOBILIEN AG accepts no guarantee or responsibility regarding such forward-looking statements and will not adjust them to future results or developments.
|Company:||TLG IMMOBILIEN AG|
|Phone:||030 - 2470 - 50|
|Fax:||030 - 2470 - 7337|
|Listed:||Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange|
|EQS News ID:||1080687|
|End of News||DGAP News Service|