alstria office REIT-AG: alstria leases 4,300 sqm in the Bieberhaus
alstria leases 4,300 sqm in the Bieberhaus (Hamburg)
Hamburg, October 10, 2017 - alstria office REIT-AG (symbol: AOX, ISIN: DE000A0LD2U1) announces the signature of a new lease for its development asset Bieberhaus (Ernst-Merck-Str. 9, Hamburg).
The new tenant, a leading German publishing group, will lease up approximately 4,300 sqm of office and ancillary space. The eleven-year lease will start on October 1, 2018 and generates an annual rental income of EUR k 870. The substantial modernisation of the building allowed alstria to increase the rent per sqm by around 70% compared to the lease prior to the refurbishment.
The historical Bieberhaus is located in the inner city of Hamburg close to the main train station. After the refurbishment of the first part of the building and the long-term lease to the well-known Ohnsorg theatre in 2010 alstria started the substantial modernisation of the 12,000 sqm of office space in 2016.
"Following the lease of 5,900 sqm announced in March, this new lease allows us to reach almost full occupancy in this development project", says Olivier Elamine, CEO of alstria. "The turnaround of this asset into a state of the art office building attracting tier 1 tenants is testimony to the operating capability of alstria."
Contact: Ralf Dibbern, IR/PR Bäckerbreitergang 75 20355 Hamburg Phone: +49 (0) 40 226 341 329 Email: firstname.lastname@example.orgMore information on:www.alstria.comwww.twitter.com/alstria_REITwww.alstria.blogspot.com www.beehive.work
About alstria: alstria office REIT AG is the leading real-estate operator focusing solely on German office property in selected German markets. Our strategy is based on the ownership and an active management of our properties throughout their entire life cycle, strong added-value services to our customers and deep knowledge of the markets in which we operate. alstria strives for sustainable long-term value creation while taking advantage of short-term arbitrage of inefficiencies in the real estate markets. The portfolio comprises 119 buildings with a lettable area of 1.6 million sqm and a total portfolio value of EUR 3.2 billion.
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.
10.10.2017 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: alstria office REIT-AG Bäckerbreitergang 75 20355 Hamburg
Germany Phone: 040-226 341 300 Fax: 040-226 341 310 E-mail: email@example.com 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