News Detail

TLG IMMOBILIEN sells a portfolio of 15 small retail properties for over EUR 20 m

DGAP-News: TLG IMMOBILIEN AG / Key word(s): Disposal/Real Estate

27.11.2018 / 07:00
The issuer is solely responsible for the content of this announcement.


TLG IMMOBILIEN sells a portfolio of 15 small retail properties for over EUR 20 m
 

- 15 discounter locations in Saxony, Saxony-Anhalt and Thuringia sold

- Sale proceeds of over EUR 20 m

- Sale of non-strategic elements of the retail portfolio


Berlin, 27 November 2018 - At the end of last week, TLG IMMOBILIEN AG (DE000A12B8Z4) signed off on the sale of a portfolio comprising 15 small retail locations in Saxony, Saxony-Anhalt and Thuringia. A purchase price in excess of EUR 20 m was agreed for these properties which are currently occupied by food discounters. The transfer of benefits and encumbrances is expected to take place in the first quarter of 2019. The consultancy firm JenAcon advised on the transaction.

'Due to their decentralised locations in sometimes highly rural regions, all 15 properties do not fit the strategic portfolio of the company", says Jürgen Overath, COO of TLG IMMOBILIEN. 'As such, the sale serves to adjust our retail portfolio in line with our future strategic orientation and scales back our portfolio in these regions, not to mention the amount of fragmented management work required by such properties.'

TLG IMMOBILIEN manages a portfolio of more than 400 office, retail and hotel properties in Germany. In keeping with its active portfolio and asset management, the company consistently disposes of non-strategic properties, especially in the retail segment.


PORTFOLIO PROPERTY LOCATIONS

> To Google Maps..


CONTACT

Christoph Wilhelm
Corporate Communications

Phone: +49 30 2470 6355
E-mail: christoph.wilhelm@tlg.de
Sven Annutsch
Investor Relations

Phone: +49 30 2470 6089
E-mail: sven.annutsch@tlg.de
 

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.



27.11.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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