publity acquires 'UNION CENTER' office complex in Saarbrücken
Leipzig/Saarbrücken, 21 February 2017 - publity AG has acquired the multi-tenant "UNION CENTER" property in Saarbrücken, which offers approx. 47,000 m2 of space. This office property is let to companies with excellent credit ratings and is located in the centre of the capital city of the Saarland.
This city-centre office property comprises eight interlinked buildings which join together to form a prestigious complex. In addition the property is characterised by its state-of-the-art architecture as well as its size, flexibility and presence. The office space allows the tenants to use the building flexibly with individual structures.
The property was modernized in 2004 and offers rental space of more than approx. 47,000 m2 as well as more than 600 parking spaces. The primary tenants are Deutsche Postbank AG, the German Federal Network Agency (Bundesnetzagentur), Prego Services GmbH and the Saarland Ministry of Finance and Europe. These tenants all have long-term leases.
The "UNION CENTER" is in direct proximity to Saarbrücken's city centre and is located on a direct connection to the university. The city centre and public transport can be reached by foot. Saarbrücken is located on the A6 motorway and is very close to the border between Germany and France.
"The property is one of the most well-known buildings in Saarbrücken. It is so attractive thanks to its long-term tenants with their excellent credit ratings, its central location and the excellent infrastructure. Future tenants will also be able to benefit from this," commented Thomas Olek, publity AG's CEO.
The law firm CMS Hasche Sigle, with a team headed by its Lead Partner Frank Schneider, is responsible for end-to-end legal consulting for the transaction, including project management and legal due diligence. Albrings + müller ag was responsible for technical project organisation and preparing technical due diligence. Waterway Investments GmbH acted as an exclusive agent on behalf of the seller.
Financial press and Investor Relations: edicto GmbH Axel Mühlhaus, Peggy Kropmanns Phone: +49 69 905505-52 E-mail: email@example.com
About publity publity AG is an asset manager specialising in office properties in Germany. The company covers a broad value chain, from purchases through to the development and sale of the properties, and also has a track record of several hundred successful transactions. publity is characterised by its strong network in the real estate sector as well as banks' Work Out departments, and has excellent access to funding. The company has excellent access to investment funds and executes its transactions quickly using a highly efficient process with tried and trusted partners. In some cases, publity acts as a co-investor in joint venture transactions to a limited extent. publity AG's shares (ISIN DE0006972508) are traded on Frankfurt Stock Exchange's Entry Standard.
End of Media Release Issuer: publity AG Key word(s): Real estate
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