publity guides its asset management mandate with the successful sale of the office complex 'Economic Center' in Hamburg to BlackRock Ltd.
Leipzig / Hamburg, 09.06.2017 - publity AG (Scale, ISIN DE0006972508) successfully sells modern office building in Hamburg to BlackRock Investment Management Ltd., after nearly a 20 month holding period. With approximately 28,500 square metres, the 547th property in the publity portfolio "Economic Center" boasts both the AXA Group and Daimler AG as its main tenants. The latest renowned tenants as of March 2017, being the main tax office and Bilfinger Hochbau GmbH. publity made its first prominent acquisition in the Hansestadt in the middle of 2015 and with their asset management experience and professionalism were able to significantly increase the value of the property. In addition, in a national comparison, Hamburg as an office location has grown in stature. "We have now achieved the successful increase in value and selling the property for a profit, "says Thomas Olek, CEO of publity AG. Located 1.5 km east of Hamburg city centre in the Hammerbrook area, the "Economic Center" is on a 9,470 square metre plot with 318 parking spaces available.
The complex, consisting of two linked buildings, extends from the basement over six upper floors with a large showroom. The property is part of a larger office complex, which was developed in 2001 and consists of four connected buildings offering three courtyards.
The law firm CMS Hasche Sigle, with a team led by lead partner Frank Schneider, was responsible for the comprehensive legal advice on the transaction, including project management and legal due diligence. The NAI Apollo Group was acting as intermediary for this transaction.
Press Contact: Finanzpresse und Investor Relations: edicto GmbH Axel Mühlhaus/ Peggy Kropmanns Telefon: +49 69 905505-52 E-Mail: firstname.lastname@example.org
publity AG is an asset manager specialised in German office real estate. The company covers a broad value chain from acquisition to development through to the sale of real estate and has a track record of several hundred successful transactions. publity is characterized by a strong network in the real estate sector as well as by the work out departments of financial institutions, has very good access to investment resources and conducts transactions quickly with a highly efficient process with proven partners. As a co-investor, publity is, to a limited extent, involved in joint venture transactions. The shares of publity AG (ISIN DE0006972508) are traded on the exchange segment of the German stock exchange.
End of Media Release Issuer: publity AG Key word(s): Real estate
09.06.2017 Dissemination of a Press Release, 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: publity AG Landsteinerstr. 6 04103 Leipzig
Germany Phone: 0341 26178710 Fax: 0341 2617832 E-mail: email@example.com Internet: www.publity.de ISIN: DE0006972508 WKN: 697250 Listed: Regulated Unofficial Market in Dusseldorf, Stuttgart, Tradegate Exchange; Open Market (Scale) in Frankfurt End of News DGAP Media