News Detail

TLG IMMOBILIEN AG invests EUR 50.6 m to acquire 'Erlenhoefe' office property in Berlin

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

2016-04-12 / 07:30
The issuer is solely responsible for the content of this announcement.


Press release

TLG IMMOBILIEN AG invests EUR 50.6 m to acquire "Erlenhoefe" office property in Berlin

- Total investment volume EUR 50.6 m

- Contractual rent approx. EUR 2.9 m p.a.

- Occupancy rate approx. 88.5%

- Average lease term (WALT) approx. 4.7 years

- Primary tenants: Healthcare enterprises Vivantes and Vitanas

Berlin, 12 April 2016 - After having the purchase agreement notarised at the beginning of the year, TLG IMMOBILIEN AG will add within the next days the office property "Erlenhoefe" in Berlin to its portfolio. The total investment volume is EUR 50.6 m. The "Erlenhöfe" property (Aroser Allee 68, 13407 Berlin) is located in Berlin's Reinickendorf district, a well-established office location for companies in the healthcare industry. The property's main tenants include Vivantes, Germany's largest public group of local medical clinics, and Vitanas, one of Germany's largest operators of elderly care facilities; both have administrative offices in the property.

The office building generates net rent totalling some EUR 2.9 m per year and has an occupancy rate of 88.5% at present. The average lease term of the lease agreements (WALT) is 4.7 years.

The combined property - comprising an older section which was fully renovated in 1993 and a new section completed in 1997 - offers some 36,700 sqm of lettable space. The property's flexible, campus-like structure offering quality accommodations as well as its easily accessible location in Berlin make the "Erlenhoefe" an appealing office location.

"It's not simple to find high-quality office properties at reasonable prices in Berlin right now", says Niclas Karoff, member of TLG IMMOBILIEN AG's Management Board, regarding this further acquisition. "This is why we're especially pleased to have been able to land this acquisition in our core market of Berlin."

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.



2016-04-12 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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