DGAP-News: TLG IMMOBILIEN AG / Key word(s): Miscellaneous
TLG IMMOBILIEN secures a new rental agreement for around 15,000 sqm of office space in Berlin-Charlottenburg
- A well-known, creditworthy tenant has been found for around 15,000 sqm of office space
- Positive development of the rent for the property at a level consistent with the location and market level
- Contractual term: 10 years, expected start of tenancy: Q4/2019
Berlin, 13 November 2018 - TLG IMMOBILIEN AG (DE000A12B8Z4) has signed a rental agreement for around 15,000 sqm of office space in Berlin-Charlottenburg with a well-known, creditworthy tenant.
"Through our active asset management, we have found at an early stage an immediate successor for one of our most important Berlin office properties at a rent level that will remain consistent with the market and location in the long term", says Jürgen Overath, Chief Operating Officer of TLG IMMOBILIEN. The new agreement is expected to start in the fourth quarter of 2019 and has a term of 10 years. The agreed rent is secure in the long term.
BNP Paribas Real Estate GmbH and Cushman & Wakefield brokered the new rental agreement as part of an exclusive agency contract. TLG IMMOBILIEN was provided with legal advice on the rental agreement by GSK Stockmann.
ABOUT THE PROPERTY
The "Spreestern" on Salzufer in Berlin is close to the government district and the City West area. The property has a prominent natural stone façade and was built in 2004. A perimeter block development with six to seven storeys and a towering 46-metre tall high-rise building with 13 storeys provide modern, flexible offices to meet high standards of variability and equipment. The building has around 17,800 sqm of floor space and 156 parking places in a two-storey underground car park.
PHOTO OF THE PROPERTY
ABOUT TLG IMMOBILIEN AG
TLG IMMOBILIEN AG is a listed leading commercial real estate company in Germany that has been synonymous with real estate expertise for over 25 years. TLG IMMOBILIEN AG generates stable rental income and exhibits low vacancy rates, very good building stock and profits from its local employees' excellent market knowledge. As an active portfolio manager, TLG IMMOBILIEN AG is specialised in commercial properties for office and retail use: it focuses on managing a high-quality portfolio mostly comprising office properties in Berlin, Frankfurt/Main, Dresden, Leipzig and Rostock. The company also has a regionally diversified portfolio of retail properties in highly frequented micro-locations. The portfolio also includes seven hotels in Berlin, Dresden, Leipzig and Rostock. TLG IMMOBILIEN AG's properties stand out not only due to their excellent locations but also because of their long-term rental or lease agreements.
As at 30 September 2018, the property value amounted to EUR 3.7 bn. As at the same reporting date, the EPRA Net Asset Value per share amounted to EUR 23.58.
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|