Deutsche Office leases additional 4,300 sqm in the Kastor building (Frankfurt)
Hamburg, December 1, 2016 - DO Deutsche Office AG, a 90.9% subsidiary of alstria office REIT-AG (symbol: AOX, ISIN: DE000A0LD2U1), announces the signature of a new lease for its asset Platz der Einheit 1 (Kastor), Frankfurt.
The new tenant will lease up approximately 4,300 sqm of office and ancillary space. The five years lease will start on April 1, 2017 and generate an annual rental income of EUR 1,140 k. Since the acquisition of Deutsche Office by alstria in October 2015 a total of 13,700 sqm were let in the building leading to a reduction of vacancy from 71% to 26%. The new leases signed in the asset in 2016 will generate a total of approximately EUR 4.0 million of additional annual income compared to the situation prior to the takeover. The Kastor building is located in the city centre of Frankfurt and is one of the landmark buildings in the portfolio of Deutsche Office.
Deutsche Office was advised by alstria office REIT-AG (Frankfurt office) in the leasing process.
The lease was brokered by Colliers International Frankfurt GmbH.
Contact: Ralf Dibbern, IR/PR Phone: +49 (0) 40 226 341 329 Email: email@example.com
More information on: www.alstria.com www.twitter.com/alstria_REIT www.alstria.blogspot.com www.beehive.work
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 114 office buildings comprising 1.6 million sqm of lettable space and representing a total portfolio value of approximately EUR 3.0 billion (as of September 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.
01.12.2016 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.
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Company: alstria office REIT-AG
Phone: 040-226 341 300
Fax: 040-226 341 310
Indices: MDAX, EPRA, German REIT Index
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Hamburg, Munich, Stuttgart,
trade gate Exchange
End of News DGAP News Service
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