TLG IMMOBILIEN AG / Key word(s): Real Estate/Miscellaneous
TLG IMMOBILIEN concludes acquisition of an office property in Rostock for EUR 15.5 million
- Office property 91% let, central location in Rostock
- Tenant structure with excellent credit ratings, mix of public and private tenants
- Purchase price: EUR 14.5 million; total investment costs, including ancillary acquisition costs: EUR 15.5 million
- Purchase agreement with an investment company of DG Anlage concluded at the end of 2014
- Net rent for the year excluding utilities of approximately EUR 1.3 million - accruing since January 2015
Berlin, 27 April 2015 - TLG IMMOBILIEN AG - a commercial real estate company focussed primarily on eastern Germany - has now concluded the acquisition of a modern office property in Rostock previously announced at the end of 2014. Approximately EUR 15.5 million was invested for the acquisition. The centrally-located property was built in 1995 and features some 16,000 square metres of lettable space, primarily for office use. 91% of the lettable space is let to tenants that include federal state authorities, an insurance company and a health insurance undertaking. Net rent for the year excluding utilities is approximately EUR 1.3 million, which TLG IMMOBILIEN has been collecting since the start of 2015. The average remaining term of the lease agreements is approximately 4 years.
"We purchased this property from a DG Anlage investment company and it's an excellent addition to our office property portfolio", said Niclas Karoff, member of TLG IMMOBILIEN's Management Board, about the acquisition, before adding, "In addition to Berlin and the economic hubs of Dresden and Leipzig, Rostock is one of our core locations for office properties. All of these locations boast falling vacancy rates and stable or rising rents in the office segment". These parameters make for ideal conditions and reinforce the Company's decisions to acquire properties in these regions.
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|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|