TLG IMMOBILIEN lets 8,100 sqm of space in 1alex office building to Visual Meta

- Lease to begin in May 2016

- 3.5-year lease with option to extend up to 5 years

- Property's occupancy rate increases to approx. 88.2%
 

Berlin, 23 November 2015 - TLG IMMOBILIEN AG increased the occupancy rate in its 1alex office building (Alexanderstraße 1, 3, 5; 10178 Berlin) to approx. 88.2% after signing yet another lease agreement for some 8,100 sqm of office space.

The new tenant is Visual Meta GmbH, a subsidiary of Axel Springer SE which operates online shopping portals in 19 countries worldwide. 'For many years now, we've been experiencing rapid growth, which has repeatedly pushed the boundaries of our existing office space, particularly in recent years. There is currently a dearth of large attractive office space available in the direct neighbourhood of our current location in Berlin-Mitte', said Johannes Kotte, Managing Director at Visual Meta. 'Therefore, we're pleased to have found a location in the heart of the city that also offers us enough room to further develop our online shopping portals, such as www.LadenZeile.de.' The company has let the entire third storey as well as other space in the building. The lease agreement will commence in May 2016 after TLG IMMOBILIEN finishes expansion work. Angermann acted as a broker for the lease agreement.
Discussing the new lease agreement, Sven Graven, head of TLG IMMOBILIEN AG's branch office, said, 'in Visual Meta we're delighted to have gained another renowned tenant from the Internet sector. This underscores the increasing attractiveness of Alexanderplatz and Berlin's East End, particularly for new-media companies.'

With a total of approx. 43,500 m² of lettable space, the office building is TLG IMMOBILIEN's largest property in terms of floor space. Constructed in the late 1960s and renovated in 1997, the building is located directly adjacent to Berlin's Alexanderplatz.
The majority of TLG IMMOBILIEN's office property portfolio is located in Berlin. Additional office property portfolios are located mainly in regional economic centres such as Dresden, Leipzig and Rostock. Tenants for the Company's office properties are primarily economically strong private companies and publicly owned entities.

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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 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.

About Visual Meta GmbH
LadenZeile and ShopAlike are among the leading online shopping portals in Europe. The platforms offer a wide range of products, from fashion and decorations, to furniture and sports products. The portals aim to make online shopping as easy and convenient as possible for its users. A quick and straightforward product search allows users to browse the offers of thousands of online shops on one page, including Otto, Amazon or Zalando, and then buy the products in the respective web shops. The platforms are operated by Visual Meta GmbH, which was set up in January 2009 in Berlin. Visual Meta currently has almost 250 employees and runs portals in 19 countries in Europe, Asia and South America (LadenZeile.de, ShopAlike.fr, ShopAlike.es, Shoppala.com, UmSoLugar.com.br, etcetera). The company is part of Axel Springer SE, a leading European media company.