DGAP-News: TLG IMMOBILIEN AG / Key word(s): Contract/Real Estate
TLG IMMOBILIEN continues to optimise its portfolio - office complex acquired in Bonn and 29 small retail properties sold
- A fully occupied office complex in Bonn has been acquired, around EUR 88.8 m gross investment
- A portfolio of 29 retail properties in various locations has been sold for around EUR 118 m
Berlin/Bonn, 20 March 2019 - TLG IMMOBILIEN (DE000A12B8Z4) continues to optimise the structure of its commercial property portfolio: a small portfolio of retail properties in various locations throughout Germany has been sold as part of the active portfolio management of the company. The company was also able to acquire a large office complex in Bonn. Both transactions underline the company's increased focus on operations since late 2018. The strategy is to remove non-strategic or work-intensive properties from the portfolio and generate sustainable value through active asset and property management and strategic investments in the portfolio, as well as by seizing opportunities for acquisitions that arise.
'These two transactions will reduce the amount of management work required by our portfolio and lead to our portfolio being concentrated in promising locations', says Jürgen Overath, COO of TLG IMMOBILIEN. 'We will reinvest some of the proceeds from the sales in the acquisition in line with our strategy of generating value.'
ACQUISITION OF 'WESTSIDE OFFICE BONN'
DISPOSAL OF A RETAIL PORTFOLIO
ABOUT TLG IMMOBILIEN AG
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 30 September 2018, its portfolio contains properties worth in excess of EUR 3.7 bn. As at the same reporting date, the EPRA Net Asset Value per share amounted to EUR 23.58. 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 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 (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange|
|End of News||DGAP News Service|