PREOS Real Estate AG expands portfolio with office property in Rhine-Ruhr region
 

- Office property with approx. 10,100 m² rental space in the city centre of Lüdenscheid

- 90 percent of the property is let, main tenant City of Lüdenscheid

- WALT of 6 years

- Total real estate portfolio expanded to 12 properties with 66,500 m² of lettable space

Leipzig, 6. August 2019 - PREOS Real Estate AG ("PREOS", ISIN DE000A2LQ850) is successfully expanding its real estate portfolio. The purchase agreement for the acquisition of an office and technical centre with a rental area of around 10,100 square metres in Lüdenscheid, not far from Dortmund, has now been notarised. The complex consists of 4 office buildings and a multi-storey car park with 193 parking spaces and is located in the city centre of Lüdenscheid. The complex is 90 percent let, the weighted average lease term (WALT) amounts six years. The main tenant is the city of Lüdenscheid with an area of approx. 2,900 square meters. The closing of the transaction is expected in the third quarter of 2019.

With this acquisition, PREOS is expanding its portfolio, which consists of real estate in the metropolitan regions of Munich, Cologne, Düsseldorf, Frankfurt and Stuttgart, among others, to now 12 properties with a total rental space of 66,500 square meters.

The office complex has a very attractive location in the middle of Lüdenscheid. The surrounding area is characterised by commercial buildings and, partially, residential buildings. The shopping centre Stern Center, the town hall and the train station are located in the immediate vicinity of the property.

The acquisition was accompanied by publity AG, which was also commissioned with the asset management of the office complex. The transaction was also advised by CMS and albrings + müller.

Frederik Mehlitz, CEO of PREOS: "We are delighted to be expanding our portfolio with this very attractive office property in the city centre of Lüdenscheid and not far from the major cities of Dortmund and Wuppertal. The property has attractive development and appreciation potential. In addition, we are in advanced negotiations for the acquisition of further properties with a focus on urban locations in Germany."
 

About the PREOS Real Estate AG

PREOS Real Estate AG ("PREOS") is an active real estate investor focused on office properties. PREOS acts as an efficient management holding company. The acquisition focuses on office properties with development potential in German metropolitan regions. Value creation is generated through targeted asset management measures. Existing developed properties are sold in the event of adequate sales opportunities. The corporate strategy is to significantly expand the real estate portfolio through acquisitions in the coming years. The PREOS share (ISIN DE000A2LQ850) is listed in the m:access segment of the Munich Stock Exchange (PAG.MU) and on Xetra (PAG.DE). PREOS is headquartered in Leipzig, Germany.

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