News Detail

TLG IMMOBILIEN invests EUR 84.6m in acquisition of an office property portfolio comprising eight properties

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

2015-11-13 / 07:00

Press release

TLG IMMOBILIEN invests EUR 84.6m in acquisition of an office property portfolio comprising eight properties

- Portfolio consists of seven office properties (Berlin, Dresden, Magdeburg, Chemnitz, Stuttgart and Essen) and one hotel (Leipzig)

- Total investment volume EUR 84.6m

- Combined contractual rent of all properties approx. EUR 5.6m p.a.

- Average lease term (WALT) approx. 5.8 years

- EPRA vacancy rate of all properties approx. 12.5%

Berlin, 13 November 2015 - TLG IMMOBILIEN AG, which specialises in commercial properties, signed a purchase agreement yesterday for a real estate portfolio comprising seven office properties and one hotel. Sellers are several closed-end funds of DG ANLAGE Gesellschaft mbH and the deal was brokered by BNP Paribas Real Estate. The sale is subject to approval by the owners of the respective investment companies. Total transaction volume upon acquisition of all the properties will be EUR 84.6m.

The inner city location of all properties is good to excellent in their respective cities and the properties, having been constructed between 1995 and 2000, are modern and in good condition. The combined annual contractual rent of all the properties is approx. EUR 5.6m; the EPRA Vacancy Rate of the portfolio is approx. 12.5% and the weighted average lease term (WALT) is approx. 5.8 years.

Portfolio details:

City Address Asset class Total lettable space Annual net rent EPRA VacancyRrate WALT
      [sqm] [EUR p.a.] [%] [years]
Berlin Kronenstraße 5 Office 2,856 374,534 1.2 6.8
Berlin Kronenstraße 6 Office 2,555 256,671 2.5 8.6
Leipzig Am Hallischen Tor 1, Brühl 3,
R.-Wagner-Straße 9
Hotel 21,376 1,709,367 12.2 9.2
Dresden Am Schießhaus 1-3 Office 9,170 858,980 7.5 8.7
Magdeburg Große Diesdorfer Straße 228-229, Schenkendorfstr.1 Office 7,916 549,039 16.0 1.9
Chemnitz Zwickauer Straße 16-16b Office 9,225 327,000 47.6 2.1
Essen Bismarckstraße 36, Friedrichstraße 12 Office 9,160 647,585 0.2 1.8
Stuttgart Industriestraße 48 Office 8,079 834,748 9.8 1.8

"This portfolio contains outstanding properties which have potential in our core regions," said Niclas Karoff, member of the Management Board of TLG IMMOBILIEN AG, commenting on the transaction. "In particular the existing rent potential provides attractive leverage with respect to future asset management."

TLG IMMOBILIEN AG focuses on managing its portfolio of office properties in Berlin and other regional economic and growth centres in eastern Germany, including Dresden, Leipzig and Rostock. The Company currently holds hotels in Berlin, Dresden and Rostock.

"Including this acquisition, TLG IMMOBILIEN AG has already signed purchase agreements for office, retail and hotel properties with a volume of approx. EUR 229m this year and has partially closed these transactions" said Karoff, concerning the Company's acquisitions so far. TLG IMMOBILIEN AG's preliminary growth target for 2017 has been set at a portfolio value of EUR 2bn.


Christoph Wilhelm
Corporate Communications
Phone: +49 30 2470 6355
E-Mail: [email protected]
Sven Annutsch
Investor Relations
Phone: +49 30 2470 6089
E-Mail: [email protected]

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 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 2015, the value of the properties under IFRS totalled EUR 1.767bn. As at the same reporting date, the EPRA Net Asset Value per share amounted to EUR 16.90.

2015-11-13 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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