GIEAG Immobilien AG: GIEAG sells logistics property in Lübeck to Exeter PG
GIEAG sells logistics property in Lübeck to Exeter PG
- State-of-the-art, fully let logistics property in Lübeck-Roggenhorst sold to Exeter Property Group
- Rental agreement with existing tenant Minimax recently extended through to end of 2021
Munich , 19 July 2017. GIEAG Immobilien AG (GIEAG) has once again been successful in its project development business and has sold its fully let logistics property in Lübeck to Exeter Property Group. The company will primarily use the proceeds to drive further property developments. CBRE acted as an advisor for this transaction.
This property has around 8,600 m² and GIEAG built it in 2012 and initially took it onto its books. It is located in the commercial zone in Lübeck-Roggenhorst and enjoys excellent transport connections to the A20 and A1 motorways. It is fully let to the fire protection company Minimax GmbH & Co. KG. The rental agreement with Minimax was recently extended through to the end of 2021.
Philipp Pferschy, member of GIEAG Immobilien AG's managing board commented: "We are very pleased that our project development in Lübeck has now successfully come to fruition and that we can also participate in the increased property values on the market. The positive market environment was just one factor in this regard. The fact that the property is fully let over the long term also played a key role. This also highlights our expertise in selecting locations and for the property's excellent quality and possibilities for other uses."
About GIEAG Immobilien AG (GIEAG)
The project development company GIEAG Immobilien AG or GIEAG for short (www.gieag.de), founded in 1999, supports its customers from the idea through the financing and realisation to the sale of the finished property. Its focus is on the development of valuable office buildings, logistics centres and residential properties. In addition, the group of companies acts as an investor in residential properties with a particularly high development potential, located primarily in southern Germany.About Exeter PG
Exeter is a real estate investment management company specialised in logistics properties across the U.S. and Europe. They manage in excess of EUR3.5 billion of equity on behalf of institutional clients and have developed and acquired in excess of 8.5 million square meters of logistics properties.
GIEAG Immobilien AG Investor Relations, Philipp Pferschy Oettingenstraße 35 80538 Munich firstname.lastname@example.org Telephone: +49 89 290516-0
edicto GmbH Axel Mühlhaus, Peggy Kropmannsamuehlhaus@edicto.de Tel.: +49 69 905505-52
19.07.2017 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.deLanguage: English
Company: GIEAG Immobilien AG Oettingenstrasse 35 80538 München
Germany Phone: +49 89 290516-0 Fax: +49 89 290516-11 E-mail: email@example.com Internet: www.gieag.de ISIN: DE0005492276 WKN: 549227 Listed: Regulated Unofficial Market in Munich End of News DGAP News Service