12.04.2016
TLG IMMOBILIEN AG DE000A12B8Z4
DGAP-News: TLG IMMOBILIEN AG invests EUR 50.6 m to acquire 'Erlenhoefe' office property in Berlin
DGAP-News: TLG IMMOBILIEN AG / Key word(s): Acquisition/Real Estate
TLG IMMOBILIEN AG invests EUR 50.6 m to acquire 'Erlenhoefe' office property
in Berlin
12.04.2016 / 07:30
The issuer is solely responsible for the content of this announcement.
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Press release
TLG IMMOBILIEN AG invests EUR 50.6 m to acquire "Erlenhoefe" office
property in Berlin
- Total investment volume EUR 50.6 m
- Contractual rent approx. EUR 2.9 m p.a.
- Occupancy rate approx. 88.5%
- Average lease term (WALT) approx. 4.7 years
- Primary tenants: Healthcare enterprises Vivantes and Vitanas
Berlin, 12 April 2016 - After having the purchase agreement notarised at
the beginning of the year, TLG IMMOBILIEN AG will add within the next days
the office property "Erlenhoefe" in Berlin to its portfolio. The total
investment volume is EUR 50.6 m. The "Erlenhöfe" property (Aroser Allee 68,
13407 Berlin) is located in Berlin's Reinickendorf district, a
well-established office location for companies in the healthcare industry.
The property's main tenants include Vivantes, Germany's largest public
group of local medical clinics, and Vitanas, one of Germany's largest
operators of elderly care facilities; both have administrative offices in
the property.
The office building generates net rent totalling some EUR 2.9 m per year
and has an occupancy rate of 88.5% at present. The average lease term of
the lease agreements (WALT) is 4.7 years.
The combined property - comprising an older section which was fully
renovated in 1993 and a new section completed in 1997 - offers some 36,700
sqm of lettable space. The property's flexible, campus-like structure
offering quality accommodations as well as its easily accessible location
in Berlin make the "Erlenhoefe" an appealing office location.
"It's not simple to find high-quality office properties at reasonable
prices in Berlin right now", says Niclas Karoff, member of TLG IMMOBILIEN
AG's Management Board, regarding this further acquisition. "This is why
we're especially pleased to have been able to land this acquisition in our
core market of Berlin."
Contact
Christoph Wilhelm Sven Annutsch Corporate Communications Investor Relations Phone: +49 30 2470 6355 Phone: +49 30 2470 6089 E-Mail: [email protected] E-Mail: [email protected]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 AG has been 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 five 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 December 2015, the value of the properties under IFRS totalled EUR 1,766 bn. As at the same reporting date, the EPRA Net Asset Value per share amounted to EUR 17.37. --------------------------------------------------------------------------- 12.04.2016 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: TLG IMMOBILIEN AG Hausvogteiplatz 12 10117 Berlin Germany Phone: 030 - 2470 - 50 Fax: 030 - 2470 - 7337 E-mail: [email protected] Internet: www.tlg.de ISIN: DE000A12B8Z4 WKN: A12B8Z Indices: SDAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart End of News DGAP News Service --------------------------------------------------------------------------- 453211 12.04.2016
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