13.10.2016
alstria office REIT-AG DE000A0LD2U1
DGAP-News: Deutsche Office sells EUR 116.8 million of non-core assets
DGAP-News: alstria office REIT-AG / Key word(s): Disposal
Deutsche Office sells EUR 116.8 million of non-core assets
13.10.2016 / 17:40
The issuer is solely responsible for the content of this announcement.
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Press release
Deutsche Office sells EUR 116.8 million of non-core assets
Hamburg, October 13, 2016 - Deutsche Office, a 90.9% subsidiary of alstria
office REIT-AG (symbol: AOX, ISIN: DE000A0LD2U1), has sold EUR 116.8
million of non-core properties in multiple transactions.
Over the recent weeks Deutsche Office successfully sold seven assets for a
total consideration of around EUR 116.8 million. The disposed assets with a
combined annual rental income of EUR 8.6 million were sold at a book gain
of 3.7% to the most recent appraised value.
The assets disposed include the last two assets of the group in the Munich
area, three assets in the Nuremberg area, a mixed used asset (hotel and
office) in Heilbronn, as well as a logistic asset near Frankfurt. They were
all part of the EUR 200 million of non-core assets of Deutsche Office.
The remaining part of Deutsche Office's non-core portfolio is expected to
be sold in the course of 2017. The Company plans to reinvest the proceeds
in Germany's major office markets in line with the group's acquisition
criteria.
In parallel alstria acquired an office building in Berlin for a total
consideration of EUR 8.4 million which generates an annual rental income of
EUR 526 k with a WAULT of 7.9 years.
As the transfer of benefits and burden of the disposed assets will take
place in the course of the fourth quarter 2016 alstria confirms its
financial guidance for FY 2016 (revenues EUR 200 million, FFO (after
minorities) of EUR 115 million).
'alstria will remain focused on office properties located in the German
main office markets', said Olivier Elamine, CEO of alstria office REIT-AG.
'The concentration on just one asset class and the establishment of sizable
sub-portfolios in Germany's most attractive markets is the key for
alstria's efficiency and competitiveness in the German office market.'
Contact:
Ralf Dibbern, IR/PR
Phone: +49 (0) 40 226 341 329
Email: [email protected]
More information on:
www.alstria.com
www.alstria.blogspot.com
www.twitter.com/alstria_REIT
About alstria:
alstria office REIT-AG is an internally managed Real Estate Investment
Trust (REIT) focused solely on acquiring, owning and managing office real
estate in Germany. alstria was founded in January 2006 and was converted
into the first German REIT in October 2007. Its headquarters are in
Hamburg. The combination of alstria and Deutsche Office creates the leading
listed German office real estate company with a combined portfolio of 117
office buildings comprising 1.7 million sqm of lettable space and
representing a total portfolio value of approximately EUR 3.3 billion (as
of June 30, 2016). The alstria office REIT-AG strategy is based on active
asset and portfolio management as well as on establishing and maintaining
good relationships with key customers
and decision makers. alstria focuses on long-term real estate value
creation.
Disclaimer:
This release constitutes neither an offer to sell nor a solicitation of an
offer to buy any shares. As far as this press release contains forward-
looking statements with respect to the business, financial condition and
results of operations of alstria office REIT-AG (alstria), these statements
are based on current expectations or beliefs of alstria's management. These
forward-looking statements are subject to a number of risks and
uncertainties that could cause actual results or performance of the Company
to differ materially from those reflected in such forward-looking
statements. Apart from other factors not mentioned here, differences could
occur as a result of changes in the overall economic situation and the
competitive environment - especially in the core business segments and
markets of alstria. Also, the development of the financial markets and
changes in national as well as international provisions particularly in the
field of tax legislation and financial reporting standards could have an
effect. Terrorist attacks and their consequences could increase the
likelihood and the extent of differences. alstria undertakes no obligation
to publicly release any revisions or updates to these forward-looking
statements to reflect events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events.
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13.10.2016 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
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Language: English
Company: alstria office REIT-AG
Bäckerbreitergang 75
20355 Hamburg
Germany
Phone: 040-226 341 300
Fax: 040-226 341 310
E-mail: [email protected]
Internet: http://www.alstria.de
ISIN: DE000A0LD2U1
WKN: A0LD2U
Indices: MDAX, EPRA, German REIT Index
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Hamburg, Munich, Stuttgart,
Tradegate Exchange
End of News DGAP News Service
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511377 13.10.2016
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