DGAP-News: TLG IMMOBILIEN AG / Key word(s): Acquisition/Real Estate
TLG IMMOBILIEN AG acquires centrally located office property in Leipzig for approx. EUR 57 m
- Total investment volume approx. EUR 57 m
- Contractual rent: EUR 3.3 m p.a.
- Property fully let, publicly-owned main tenant
Leipzig/Berlin, 30 March 2016 - TLG IMMOBILIEN AG has acquired a centrally located office property in Leipzig. The company invested a total of approx. EUR 57 m in the transaction. The seller is an institutional investor; HVB Immobilien AG transacted the sale on behalf of the seller as its asset manager.
The modern office building is centrally located in Leipzig and fully let. The main tenant is a publicly-owned company. The property's inner-city location on one of the city's main arteries and its excellent public transport links set the office building apart. The property also has an underground car park.
Taken together, the tenants generate annual contractual rent of EUR 3.3 m. The weighted average lease term (WALT) is 9.5 years.
"Leipzig is one of the most promising cities for investments in office properties in eastern Germany", said Niclas Karoff, member of TLG IMMOBILIEN AG's Management Board. "We are pleased to have acquired this valuable property, which has an excellent rental situation and represents a further expansion of our portfolio in Leipzig."
About TLG IMMOBILIEN AG
|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|
|End of News||DGAP News Service|