News Detail

BARMER GEK increases the space let from TLG IMMOBILIEN in Dresden to approximately 3,400 square metres

- Lease agreement expanded within one year from 1,850 square metres to approximately 3,400 square metres
- New lease term of ten years

Dresden/Berlin, 27 January 2015 – BARMER GEK in Dresden has once again expanded the space it lets from TLG IMMOBILIEN AG at the Margonhaus property. After previously remodelling the customer service centre, it is currently converting the sixth storey to add some 710 square metres of additional space. In April 2014, BARMER GEK moved in and initially occupied approximately 1,850 square metres of space before expanding its let space by an additional 710 square metres in October 2014. By letting yet another approximately 710 square metres of space, BARMER GEK has now increased its total let space at this property to roughly 3,400 square metres within a single year. The company is now the primary tenant at the Margonhaus property. In addition, BARMER GEK and TLG IMMOBILIEN agreed to a lease term of ten years for the total leased space, beginning from the start of the lease on 1 August 2015.

'We successfully relocated other tenants and vacated owner-occupied space to meet the increased space needs of our prestigious anchor tenant', said Niclas Karoff, member of TLG IMMOBILIEN's Management Board. 'The dynamic development of the local economy speaks volumes for Dresden as an office location and reinforces our commitment to expanding our property portfolio in this growth centre going forward', Karoff continued.

TLG IMMOBILIEN completely gutted and renovated the Margonhaus building in 2001. The property is located in the centre of the city only a few metres from Prager Straße, Dresden's main shopping artery, and the two main downtown shopping centres. It is easily accessible by public transportation and features convenient parking for tenants and visitors alike. 'Because of these excellent features, BARMER GEK chose this location to house the new head office and service centre', said Frank Kebbekus, BARMER GEK's regional managing director. 'We're particularly thrilled about all of the positive feedback we've received from the visitors on our recently remodelled branch office on the ground floor.'

Christoph Wilhelm
Corporate Communications
Phone: +49 30 2470 6355
Email: [email protected]

TLG IMMOBILIEN AG is a leading commercial real estate company focusing on Berlin and
growth regions in Eastern Germany. For over 20 years, TLG IMMOBILIEN has been
synonymous with real estate expertise in Germany's East. TLG IMMOBILIEN 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 is specialised in commercial properties for office and retail use. TLG IMMOBILIEN
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'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 30 September 2014 the portfolio value (fair value) is EUR 1.5 billion. The EPRA net asset value per share is EUR14,27 as at the reference day.