News Detail

TLG IMMOBILIEN AG acquires centrally located office property in Leipzig for approx. EUR 57 m

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

2016-03-30 / 07:02
The issuer is solely responsible for the content of this announcement.


Press release

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."

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 stock exchange-listed leading commercial real estate company focusing on Berlin and growth regions in eastern Germany. For over 20 years, TLG IMMOBILIEN AG has been synonymous with real estate expertise in Germany's East. 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. TLG IMMOBILIEN AG focuses on managing a high-quality portfolio of office properties in Berlin and other regional economic centres, as well as a regionally diversified portfolio of retail properties in highly frequented micro locations. The portfolio also includes five hotels in Berlin, Dresden and Rostock. TLG IMMOBILIEN AG's properties stand out not only due to their excellent locations but also because of their very long-term rental or lease agreements.
As at 31 December 2015, the value of the properties under IFRS totalled EUR 1,766 bn. As at the same reporting date, the EPRA Net Asset Value per share amounted to EUR 17.37.



2016-03-30 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.

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