10.08.2016
TLG IMMOBILIEN AG DE000A12B8Z4
DGAP-News: TLG IMMOBILIEN AG acquires office property with significant letting potential in Berlin
DGAP-News: TLG IMMOBILIEN AG / Key word(s): Acquisition/Real Estate
TLG IMMOBILIEN AG acquires office property with significant letting
potential in Berlin
10.08.2016 / 07:05
The issuer is solely responsible for the content of this announcement.
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Press release
TLG IMMOBILIEN AG acquires office property with significant letting
potential in Berlin
- Total investment volume of around EUR 32.1 m
- Multi-tenant office property with flexible use of space in an excellent
micro-location in Berlin-Tegel
- Occupancy rate of around 40% and a weighted average lease term (WALT)
of 5.9 years
- Around EUR 2.1 m p.a. currently generated from rental agreements (incl.
rent guarantee)
Berlin, 10 August 2016 - Last week TLG IMMOBILIEN AG signed the purchase
agreement for an office property at Kapweg 3-5, 13405 Berlin. The company
is investing around EUR 32.1 m in the transaction. The property was sold by
a private seller and the transaction was brokered by Colliers
International.
The modern office property was built in 1997 and features seven floors with
a total lettable area of around 18,200 sqm. The space can be partitioned to
create single offices or an open-space office. The occupants are currently
office users and medical practices. The current occupancy rate is around
40% as the seller initially planned to convert the property and therefore
shelved offers to rent out office space. As a result, the property
currently generates around EUR 740,000 p.a. from rental agreements.
Additionally, the seller has issued an extensive rent guarantee for the
existing vacant space for the next two years. There is significant
potential to increase rental income through re-letting which can be
generated by repositioning the property. The weighted average lease term
(WALT) in the property is 5.9 years. The property features an underground
car park with 182 parking spaces and enjoys excellent connections to public
transport and the A 100 Autobahn.
Situated on the bustling Kurt-Schumacher-Platz, the office is in the heart
of a district near to Tegel airport and is in the direct vicinity of "Der
Clou" shopping centre.
"This was just one of the reasons why we acquired this property, as there
is very little available space on the Berlin office market due to the high
level of demand and the letting opportunities will therefore be
outstanding. We are certain that we will be able to reduce the vacancy rate
of this property quickly and in doing so boost its potential", says Niclas
Karoff, member of the Management Board of TLG IMMOBILIEN AG..
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 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, Leipzig 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 30 June 2016, the value of the properties under IFRS totalled EUR 1,983 bn. As at the same reporting date, the EPRA Net Asset Value per share amounted to EUR 17.33. --------------------------------------------------------------------------- 10.08.2016 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. Archive at 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, Tradegate Exchange End of News DGAP News Service --------------------------------------------------------------------------- 490841 10.08.2016
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