Press release

TLG IMMOBILEN AG lets approx. 1,600 sqm in office space in Berlin at Alexanderstraße 1, 3, 5 to the price comparison website CHECK24
 

- Rent per square metre increased by approx. 50 %

- Lease term: 5 years

- Property's adjusted EPRA Vacancy Rate reduced to 7.2 %

Berlin, 23 June 2016 - Beginning on 1 December 2016, CHECK24 Vergleichsportal GmbH will let approx. 1,600 sqm in office space at Alexanderstraße 1, 3, 5 in Berlin. The lease agreement with TLG IMMOBILIEN AG has an initial term of 5 years. DIE IMMOBILIEN PARTNER Berlin GmbH brokered the deal. This lease reduces the entire property's adjusted EPRA Vacancy Rate - factoring in future lease agreements already signed as well as terminated agreements - to just 7.2 %.

The early termination of an existing lease agreement and the subsequent re-letting of that space along with further vacant space to CHECK24 at a rate that is in line with the current market rents has enabled the Company to benefit from the market's dynamic growth. Rent for the lettable space has thus increased by approx. 50 %.

Locations surrounding Berlin's Alexanderplatz are currently in high demand, in particular with media and telecommunications companies. For instance, in the past six months alone, more than 10,000 sqm in space at the Alexanderstraße 1, 3, 5 property was let to Visual Meta (including ladenzeile.de), a subsidiary of Axel Springer, and the DSL and mobile telephony provider 1&1.

The majority of TLG IMMOBILIEN AG'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 TLG IMMOBILIEN AG'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 25 years, TLG IMMOBILIEN AG is 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 seven 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 March 2016, the value of the properties under IFRS totalled EUR 1,865 bn. As at the same reporting date, the EPRA Net Asset Value per share amounted to EUR 17.64.