28.06.2018
TLG IMMOBILIEN AG DE000A12B8Z4
DGAP-News: TLG IMMOBILIEN signs rental agreement for around 18,000 sqm of office space with the city of Dresden
DGAP-News: TLG IMMOBILIEN AG / Key word(s): Contract/Real Estate
TLG IMMOBILIEN signs rental agreement for around 18,000 sqm of office space
with the city of Dresden
28.06.2018 / 11:30
The issuer is solely responsible for the content of this announcement.
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TLG IMMOBILIEN signs rental agreement for around 18,000 sqm of office space
with the city of Dresden
- Contractual term: 7.5 years - start of tenancy: 1 July 2018
- Property fully occupied
- Rental income of around EUR 11.6 m secured by this triple net lease
agreement
- Continuation of the long-standing business relationship with the city of
Dresden as an anchor tenant in the office property portfolio of TLG
IMMOBILIEN
Berlin/Dresden, 28 June 2018 - The city of Dresden, capital of the state of
Saxony, and TLG IMMOBILIEN have signed a new rental agreement concerning the
approx. 18,000 sqm of office space currently in use in the office property
'Pirnaisches Tor' (Grunaer Str. 2/St. Petersburger-Str. 9, 01069 Dresden).
The agreement will come into effect on 1 July 2018.
The original rental agreement between the parties would have expired in the
summer of 2019 as TLG IMMOBILIEN would not have extended the term due to the
general technical situation of the building. For the city of Dresden, this
would have meant the relocation of around 450 civil servants to mobile units
until the completion of the new administrative centre on Ferdinandplatz in
Dresden in 2025.
Through successful contractual negotiations, the previous rental agreement
has been replaced by a triple net lease agreement combined with an increase
in rent up to the level of the market. As a result, TLG IMMOBILIEN has
secured a rental income of around EUR 11.6 m from this property for another
7.5 years whilst opening up potential for development at this promising
location in the centre of Dresden.
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 listed leading commercial real estate company in
Germany that has been synonymous with real estate expertise for over 25
years. TLG IMMOBILIEN AG generates stable rental in-come and exhibits low
vacancy rates, very good building stock and profits from its local
employees' excel-lent market knowledge. As an active portfolio manager, TLG
IMMOBILIEN AG is specialised in commercial properties for office and retail
use: it focuses on managing a high-quality portfolio mostly comprising
office properties in Berlin, Frankfurt/Main, Dresden, Leipzig and Rostock.
The company also has a region-ally 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 on-ly due to their excellent locations but also
because of their long-term rental or lease agreements.
As at 31 March 2018, the property value amounted to EUR 3.5 bn. As at the
same reporting date, the EPRA Net Asset Value per share amounted to EUR
22.09.
This publication contains forward-looking statements based on current views
and assumptions of TLG IMMOBILIEN AG's management and made to the best of
knowledge. Forward-looking statements are subject to known and unknown
risks, uncertainties and other factors that could cause TLG IMMOBILIEN AG's
revenues, profitability or the degree to which it performs or achieves its
targets, to materially deviate from what is explicitly or implicitly stated
or described in this publication. Therefore, persons who obtain possession
of this publication should not rely on such forward-looking statements. TLG
IMMOBILIEN AG accepts no guarantee or responsibility regarding such
forward-looking statements and will not adjust them to future results or
developments.
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28.06.2018 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
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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
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699661 28.06.2018
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