Investor Presentation • May 8, 2018
Investor Presentation
Open in ViewerOpens in native device viewer
LEG Immobilien AG8 May 2018
Q1-2018 Results
While the company has taken all reasonable care to ensure that the facts stated in this presentation are accurate and that the opinions contained in it are fair and reasonable, this presentation is selective in nature and is intended to provide an introduction to, and an overview of the Company's business. Any opinions expressed in this presentation are subject to change without notice and neither the Company nor any other person is under any obligation to update or keep current the information contained in this presentation. Where this presentation quotes any information or statistics from any external sources, you should not interpret that the Company has adopted or endorsed such information or statistics as being accurate.
This presentation may contain forward-looking statements that are subject to risks and uncertainties, including thosepertaining to the anticipated benefits to be realised from the proposals described herein. Forward-looking statements may include, in particular, statements about future events, future financial performance, plans, strategies, expectations, prospects, competitive environment, regulation, and supply and demand. The Company has based these forward-looking statements on its views and assumptions with respect to future events and financial performance. Actual financial performance could differ materially from that projected in the forward-looking statements due to the inherent uncertainty of estimates, forecasts and projections, and financial performance may be better or worse than anticipated. Given these uncertainties, readers should not put undue reliance on any forward-looking statements. The information contained in this presentation is subject to change without notice and the Company does not undertake any duty to update the information and forward-looking statements, and the estimates and assumptions associated with them, except to the extent required by applicable laws and regulations.
This presentation does not constitute an offer or invitation to purchase or sell any shares in the Company and neither this presentation or anything in it shall form the basis of, or be relied upon in connection with, any contract or commitment whatsoever.
| 3 1. 0 3. 2 0 1 8 |
( O ) Y Y ∆ |
|
|---|---|---|
| # f u i ts o n |
4 1, 2 9 8 |
6. 1 % + |
| In- lac t ( ), l- f- l p e re n sq m |
€ 6. 0 7 |
2. 1 % + |
| f- E P R A- Va l- l ca nc y, |
% 1. 6 |
1 0 bp + s |
| 3 1. 0 3. 2 0 1 8 |
( Y O Y ) ∆ |
|
|---|---|---|
| # f u i ts o n |
4 6 9 7, 5 |
1. 2 % + |
| In- lac ( ), l- f- l t p e re n sq m |
€ 5. 2 2 |
2. 3 % + |
| E P R A- Va l- f- l ca nc y, |
3. 2 % |
-1 0 bp s |
| 3 1. 0 3. 2 0 1 8 |
( Y O Y ) ∆ |
||
|---|---|---|---|
| # f u i ts o n |
1 3 0, 2 0 8 |
% 2. 5 + |
|
| In- lac t ( ), l- f- l p e re n sq m |
€ 5. 4 9 |
2. 3 % + |
|
| E P R A- Va l- f- l ca nc y, |
3. 3 % |
/- 0 bp + s |
|
| 3 1. 0 3. 2 0 1 8 |
( O ) Y Y ∆ |
|
|---|---|---|
| # f u i ts o n |
3 9, 4 9 1 |
0. 7 % |
| ( ), f- In- lac t l- l p e re n sq m |
€ 5. 1 4 |
% 2. 2 + |
| E P R A- Va l- f- l ca nc y, |
5. 8 % |
/- 0 bp + s |
| L- f- l R i d i l R ( € / / h ) t t t e s e n a e n s q m m o n |
L- f- l F F i d R ( € / / h ) t t r e e n a n c e e n s q m m o n |
||||
|---|---|---|---|---|---|
| 2. + |
3 % |
3. 1 % + |
|||
| 5. | 4 | 5. | 5. | ||
| 3 | 9 | 6 | 8 | ||
| 7 | 5. | 2 | 0 | ||
| Q | Q | Q | Q | ||
| 1- | 1- | 1- | 1- | ||
| 2 | 2 | 2 | 2 | ||
| 0 | 0 | 0 | 0 | ||
| 1 | 1 | 1 | 1 | ||
| 7 | 8 | 7 | 8 |
| € m i l l ion |
Q 1- 2 0 1 8 |
Q 1- 2 0 1 7 |
|
|---|---|---|---|
| Ne l d r t c t o en |
1 3 8. 5 |
1 3 1. 9 |
+€ 6. 6m /+ 5. 0 % |
| f fro Pr i t t ing o m op era ex p en se s |
-2 8 |
-1 1 |
|
| Ma in ten ( ter l ly- d s ice ) an ce ex na p roc ure erv s |
-1 5. 5 |
-9 8 |
f m H ig he ha in ten r s re o a an ce in iso to low |
| S f f c ta ts os |
-1 0 5. |
-1 3. 4 |
me as ure s co mp ar n Q 1- 2 0 1 7 lev l. A lso e so me |
| A l low t re iva b les an ce s o n r en ce |
-2 4 |
-1 9 |
f h ig he t in la t ion r c os |
| O t he r |
-2 8 |
-1 6 |
Gr t h in ta f f c ts in ly ow s os ma du to d d i t ion l F T E 's for e a a e.g |
| No ing j ( l d lea ) t c ts ta n-r ec urr p ro ec os ren an se |
1. 3 |
0. 2 |
f ts ice d e ha d cra se rv s a n n nc e |
| Re ing t r ta l a d lea inc cu rr ne en n se om e |
1 0 1. 3 |
1 0 4. 3 |
ca p ex p rog ram |
| Re ing inc fro he ice t t cu rr ne om e m o r s erv s |
2. 0 |
1. 9 |
A d j te d for h ig he us r |
| S ta f f c ts os |
-5 7 |
-5 7 |
in ten ing N R I ma an ce re cu rr |
| No ta f f o t ing ts n-s p era co s |
-3 4 |
-4 0 |
inc d by € 3. 8 Y O Y + rea se m |
| No ing j ( dm in. ) t c ts n-r ec urr p ro ec os a |
0. 4 |
1. 2 |
|
| Ex tra d ina d p ior io d e or ry an r -p er xp en se s |
0. 0 |
0. 0 |
A dm in. ly f la ts t co s ne ar |
| Re ing dm in is ive tra t cu rr a ex p en se s |
-8. 7 |
-8. 5 |
( Y O Y ) i h s b le l t ta w p ers on ne |
| O t he inc d e r om e a n xp en se s |
0. 2 |
0. 1 |
de i te ex p en se s sp wa g e f in la t ion |
| A d j te d E B I T D A us |
9 4. 8 |
9 7. 8 |
|
| Ca h in d inc ter t e s es xp en se s a n om e |
-1 9. 4 |
-2 0. 9 |
A d j d for h ig he te us r |
| Ca h inc tax fro ta l a d lea s om e es m ren n se |
-1 0 |
-1 3 |
in +€ 3. 8m ten ts ma an ce co s Y O Y |
| F F O I ( inc lu d ing tro l l ing in te ts ) no n-c on res |
7 4. 4 |
7 5. 6 |
|
| No tro l l ing in ter ts n-c on es |
-0 2 |
-0 4 |
Lo in ( d Q 1- ter t c ts we r es os en |
| F F O I ( lu d ing tro l l ing in te ts ) ex c no n-c on res |
7 4. 2 |
7 5. 2 |
2 0 1 8: 1. 6 % 1. 9 % Q 1- 7 5 in vs 2 0 1 ) 7 |
| F F O I I ( inc lu d ing d isp l o f inv ) tm t p ty os a es en ro p er |
7 3. 5 |
7 5. 3 |
|
| Ca d j te d F F O I ( A F F O ) p ex -a us |
5 2. 2 |
6 6. 2 |
| € i l l io m n |
Q 1- 2 0 1 8 |
Q 1- 2 0 1 7 |
|
|---|---|---|---|
| Re d in te te t e p or re s xp en se |
2 4. 2 |
3 8. 9 |
On f f re f f fec f ina ing t o e-o nc e € fro 4. 9m in F Y- 2 0 1 7 m |
| In la d loa isa ion te t te to t t re s ex p en se re n a mo r |
-3 6 |
-9 9 |
f f s ina ing bs i d ise d re nc o u loa ( loa t isa t ion ) ns n a mo r |
| / Pr t p l t ies br ka ts ep ay me n en a ea g e c os |
-0 0 |
-6 8 |
Re lea f s d f ixe d se o wa p s a n |
| f a / In te t c ts la te d to lua t ion ts l ia b i l i t ies re s os re va o ss e |
-0 2 |
-0 4 |
in loa ( f ina ing ) ter t es ns re nc ; l re f ina ing € 1 1. 7m to ta ts nc co s in F Y- 2 0 1 7 |
| Le ing la te d in te t e as re re s xp en se |
-0 2 |
-0 3 |
|
| In te t e la te d to ha in ion is ion re s xp en se s r e c ng es p en s p rov s |
-0 6 |
-0 6 |
|
| O t he in te t e r re s xp en se s |
-0 2 |
0. 0 |
|
| Ca h f fe t ive in te t e ( ) s e c re s xp en se g ro ss |
1 9. 4 |
2 0. 9 |
|
| Ca h f fe t ive in te t inc s e c re s om e |
0. 1 |
0. 0 |
In im d ter t c es ov era g e p rov e |
| Ca f fe ( ) h t ive in te t e t s e c re s xp en se ne |
1 9. 4 |
2 0. 9 |
fur ( 9x fro t he 4. 4. 7x r up m O ) Y Y |
| € i l l io m n |
3 1. 0 3. 2 0 1 8 |
3 1. 1 2. 2 0 1 7 |
|
|---|---|---|---|
| Eq i ty ( l. in i ty in te ts ) u ex c m or re s |
4, 1 6 5. 8 |
4, 0 8 7. 4 |
€ 4m f i 7 7. t p t ne ro € 2. 4m t he he ive o r c om p re ns |
| f fe f e E t o is ing t ion t i b les d o t he ig h ts c xe rc o p s, co nv er an r r |
5 3 7. 8 |
5 5 9. 2 |
( ) inc de iva t ive om e r s -€ 1. 4m t he o rs |
| N A V |
4, 7 0 3. 6 |
4, 6 4 6. 6 |
|
| f f Fa ir v lue t o de iva t ive ina ia l ins tru ts a m ea su re me n r nc me n |
2 3 0. 4 |
2 5 9. 8 |
|
| 1) De fe d tax rre es |
9 0 8. 3 |
8 9 9. 3 |
|
| E P R A- N A V |
8 4 2. 3 5, |
8 0 5, 5. 7 |
|
| 2) Nu be f s ha fu l ly- d i lu te d inc l. c t i b le ( ) m r o re s on ve r m |
6 8. 6 4 4 |
6 8. 6 4 4 |
|
| E P R A- N A V ha in € p er s re |
8 1 1 5. |
8 4. 8 5 |
|
| Go dw i l l re l t ing fro ies o su m sy ne rg |
5 2. 7 |
5 2. 7 |
|
| A d j d E P R A- N A V ( l. g dw i l l ) te us ex c oo |
8 9. 6 5, 7 |
3. 0 5, 7 5 |
|
| A d j te d E P R A- N A V ha in € us p er s re |
8 4. 3 4 |
8 3. 8 1 |
Attractive rental yield of 5.9% leaves upside for capital growth (thereof free financed portfolio: 6.1%)
2) Actual number of shares outstanding 63.19m1) And goodwill resulting from deferred taxes on EPRA-adjustments 3) Assumption: expected 2019 FFO, growth rate of 0%
| M ke t a r |
Re i d t ia l s e n U i t n s |
G A V Re i d t ia l s e n ( € ) As t s e s m |
% f To l t o a Re i d t ia l s e n G A V |
G / A V ( € ) s q m |
In -P la c e Re t M l t ip le n u |
M l ip le t u s, Es t im t d a e Re t l Va lu n a e s |
G A V C ia l / o m m e rc O t he r ( € ) As t s e s m |
G To t l A V a |
|---|---|---|---|---|---|---|---|---|
| H ig h G t h ro w M ke t a r s |
4 1, 2 9 8 |
4, 2 1 6 |
4 6 % |
1, 4 4 5 |
2 0. 9x |
1 8. 1x |
2 0 6 |
4, 4 2 2 |
| S t b le a M ke t a r s |
4 7, 5 6 9 |
2, 8 4 2 |
3 1 % |
9 2 9 |
1 5. 1x |
1 4. 1x |
9 9 |
2, 9 4 1 |
| H ig he r Y ie l d in g M ke t a r s |
3 9, 4 9 1 |
1, 9 2 6 |
% 2 1 |
7 9 5 |
1 3. 6x |
1 3. 0x |
5 7 |
1, 9 8 3 |
| Su b l N R W t t o a |
1 2 8, 3 8 5 |
8, 9 8 3 |
9 8 % |
1, 0 9 4 |
1 6. 9x |
1 4x 5. |
3 6 2 |
9, 3 4 6 |
| Po fo l io i d t ts r ou e N R W |
1, 8 0 5 |
1 4 5 |
2 % |
1, 1 6 3 |
1 6. 5x |
1 5. 5x |
2 | 1 4 6 |
| To l Po fo l io t t a r |
1 3 0, 2 0 8 |
9, 1 2 8 |
1 0 0 % |
1, 0 9 5 |
1 6. 9x |
1 4x 5. |
3 6 4 |
9, 4 9 2 |
| O he As t ts r s e |
||||||||
| To t l a |
9, 5 6 4 |
LTV
| € i l l io m n |
3 1. 0 3. 2 0 1 8 |
3 1. 1 2. 2 0 1 7 |
|---|---|---|
| F ina ia l l ia b i l i t ies nc |
4, 2 8 5. 9 |
4, 2 9 9. 6 |
| Ca h & h e iva len ts s ca s q u |
2 8 3. 0 |
2 8 5. 4 |
| Ne De b t t |
4, 0 0 2. 9 |
4, 0 1 4. 2 |
| Inv tm t p t ies es en ro p er |
9, 5 1 4. 1 |
9, 4 6 0. 7 |
| Pr ies he l d fo le t op er r s a |
2 4. 3 |
3 0. 9 |
| fo Pr ts inv tm t t ies ep ay me n r es en p ro p er |
- | - |
| Pr ty lu op er va es |
9, 5 3 8. 4 |
9, 4 9 1. 6 |
| Lo to Va lu ( L T V ) in % an e |
4 2. 0 |
4 2. 3 |
| fo % Pr L T V t c io in o- rm a p os on ve rs n |
3 9. 1 |
3 9. 4 |
Financing Structure – 31 December 2017
1) €300 m convertible bond with investor put option 2019
2) Corporate bond (€500 m)
3) €400 m convertible bond
| K F t e y a c s |
M i i t t a u r e s |
||||
|---|---|---|---|---|---|
| A d b i t t t v e r a g e e m a u r y |
8. 1 y e a r s |
1- 2 y e a r s |
0. 1 % |
||
| I t t t n e r e s c o s s |
Ø 1. 6 % 7 |
3- 5 y e a r s |
1 8. 4 % |
||
| H d i t i e g n g r a o |
9 2. 9 % |
6- 8 y e a r s |
5 1. 5 % |
||
| R i t a n g |
B 1 ( M d 's ) a a o o y |
≥ 9 e a r s y |
% 3 0. 0 |
| 2 0 1 8 |
F F O I E B I T D A i m a r g n L- F- L h t t r e n g r o w L- F- L v a c a n c y I t t n e s m e n s v D i i d d v e n |
€ 3 1 5 € 3 2 3 / € 4. 9 9 € 5. 1 1 h m m p e r s a r e - - 3 % ~7 ~3 0 % l i h t l d i s g y e c r e a s n g ~€ / 2 9- 3 0 s q m 0 % f F F O I 7 o |
|---|---|---|
| 2 0 1 9 |
F F O I E B I T D A i m a r g n L- F- L h t t r e n g r o w I t t n v e s m e n s |
€ 3 3 8 € 3 4 4 / € 5. 3 5 € 5. 4 4 h m m p e r s a r e - - ~7 4 % ~3 5 % ~€ 2 9- 3 0 / s q m |
| M i d t e r m - |
L- F- L h t t r e n g r o w |
3. 0 3. % 5 - |
| N e |
t I i t m m g r a |
G i t o n o e r m a n y |
K F t e y a c s |
|
|---|---|---|---|---|
| 4) 2. 5 m |
Fe d l Ag f M ig io d Re fu l le d d t te ta e ra e nc y o ra n a n g e e s c o c a ha im ig io f fo ig G d t t n t t t te e m ra n o re ne rs o e rm a ny a m ou n to b t 0. 2 5 i l l io in H 1- 2 0 1 7, t he f 0. 1 2 i l l io a ou m n re o m n 3) E U t io ls no n- na na |
|||
| De t he Bu d b k fo ts 2. 5 i l l io d d i t io l s c n e s a n re c a s m n a na u 4) im ig t ( t ) fo 2 0 1 7- 2 0 2 5 m ra n s ne r |
||||
| En d f 2 0 1 6, 1. 6 i l l io le k in io ( inc l. t t o m n p e o p s e e g p ro e c n lu ke ) is d in G ( 1 1 3 % te + a sy m s e e rs we re re g re e rm a ny v s 5) 2 0 1 4 ), t he j i ty l iv in in N R W ( 2 7 % ) m a o r g |
||||
| 1) ~1 0 m ( 8 0 % ) + ap p ro x. y oy N R W ~2 5 |
% | S b i l is in im ig io d fo he t t t te t to a g ne m ra n ex p e c r y e a rs c o m e i t h d in ha f r fu ( -7 0 % lu e c re a s g s re o e g e e s c. a sy m w O f r fu ( ) ke 2 0 1 7 Y Y; 0. 1 i l l io t in 2 0 1 7 s e e rs c m n o e g e e s ne 6) ) t im te d e s a |
||
| 2) 0. 5 m |
3) 0. 4 5 m > |
Im ig t io is d iv in l l p la t io t h, m ra n r g ov e ra o p u n g ro w t ig in d d i t io l g t h in t ho ho l d r g e r g a na ro w n e ne w u s e s |
||
| A d d i t io l p f fo d b le ho in t na re s su re o n a r a u s g s e g m e n |
||||
| 2 0 1 5 Sou |
2 0 1 6 |
2 0 1 7 E |
2 0 1 7- 2 0 2 5 |
O fo f G l i f ie d t t t t u p e r rm a nc e o e rm a n e c o no m y a ra c s q u a im ig io t ne w m ra n |
| rces : 1) Inte rvie ith d irec tor of F w w Offi 2) Fed l Sta tisti cal era ce, 3) Fed l Sta tisti cal Offi era ce, 4) Deu tsch e B und esb ank 5) Fed l Sta tisti cal Offi era ce, 6) Bun des amt für Mig ratio n un |
ede ral A f M igra gen cy o elea 13 M ar 2 pre ss r se elea 16 J an 2 pre ss r se elea 2 N ov 2 017 pre ss r se d F lüch tling e, M h 20 arc |
tion d R efug (Au g 2 016 ) an ees 018 018 18 a nd Fed l St atis tica l Of fice era |
, Ap ril 2 018 |
iq i d la b ke d f fo d b le l iv ing l l- fa L t t u ou r m a r a n a r a a s p u c o rs fo N R W r |
| A d j. E B I T D A in m ar g |
F Y- |
2 0 1 7 |
2 0 1 6 |
|
|---|---|---|---|---|
| €m | in % m ar g |
€m | in % m ar g |
|
| As te d re p or |
3 8 5. 7 |
7 2. 1 |
3 5 5. 7 |
6 9. 5 |
| 1) Ga tr ic te d tr ic te d ts p re s vs . u nr es re n |
3 0. 1 |
7 3. 6 |
2 6. 3 |
7 1. 0 |
1) €/sqm: €4.74 vs. €5.81 in 2017, €4.67 vs. €5.56 in 2016
Spread to Market Rent € /sqm /month2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028ff 1.54 1.01 1.902.922.480.79 1.06 1.561.07 1.41 1.30
| 2) ≤ 5 y ea rs |
2) 6 – 1 0 y ea rs |
2) ≥ 1 0 y ea rs |
|
|---|---|---|---|
| In lac t -p e re n |
€ 3 4. 7 |
€ 3 4. 5 |
€ 8 6 4. |
| 1) Ma ke t r t r en |
€ 6. 4 1 |
€ 5. 6 1 |
€ 6. 1 5 |
| 3) Up i de te t ia l s p o n |
% 3 6 |
% 2 9 |
% 2 7 |
| 3) Up i de te t ia l p s p o n .a. |
€ 7. 6m |
€ 2. 7m |
€ 2 7. 5m |
Source: LEG as of Q1-2018
3) Rent upside is defined as the difference between LEG in-place rent as of FY-2017 and market rent (defined in footnote 1) as of FY-2017.
| R l d t e e a s e a e |
G H i h- t h g r o w M k t a r e s |
S t b l a e M k t a r e s |
H i h Y i l d i g e r- e n g M k t a r e s |
T t l o a f P t l i o r o o |
|
|---|---|---|---|---|---|
| ( Q ) 2 0 1 8 1 |
3, 5 1 6 i t u n s ( fe ) in ly B ie le l d ma |
3, 9 9 0 i t u n s ( ) in ly Es ma se n |
1, 4 4 9 i t s ( u n ) De tm l d o |
8, 9 5 5 i t n s u |
|
| 2 0 1 8 ( Q 2 ) |
1, 1 4 2 i t u n s |
3, 1 8 4 i t n s u ( in ly So l ing ) ma en |
2, 6 6 4 i t n s u ( in ly He Do ) te te ma r n, rs n |
6, 6 i 7 5 t u n s |
|
| 2 0 1 8 ( Q 3 ) |
2, 4 2 i 5 t u n s ( in ly Bo ) ma nn |
- | 2, 2 8 8 i t u n s ( in ly Re he i d ) ma ms c |
4, 8 3 0 i t u n s |
|
| ( Q ) 2 0 1 8 4 |
5, 7 1 5 i t u n s ( f ) in ly D üs l do ma se r |
- | - | 5, 7 1 5 i t u n s |
|
| 1 T l t o a |
1 2, 9 1 i 5 t u n s |
1 3 8 i 7, t u n s |
6, 2 0 3 i t u n s |
2 6, 2 6 i 5 t u n s |
|
| f: T he re o fe B ie le l d - Bo nn - Do te rs n - |
3, 2 5 4 i ts u n 2, 2 8 3 i ts n u |
1, 1 9 2 i ts n u |
| B ie le fe l d |
3, 2 5 4 i ts n u |
|||
|---|---|---|---|---|
| Bo nn |
2, 2 8 3 i ts n u |
|||
| Do te rs n |
1, 1 9 2 i ts u n |
|||
| D ü l d f s s e o r |
2 8 i 5, 5 ts u n |
|||
| Es s e n |
3, 1 1 7 i ts u n |
|||
| Ha g e n |
1, 2 1 2 i ts u n |
|||
| He te r n |
1, 2 7 4 i ts n u |
|||
| L ü ne n |
7 9 2 i ts n u |
|||
| Re he i d m s c |
2, 2 1 2 i ts u n |
|||
| S l ing o e n |
1, 4 9 2 i ts u n |
Su b-p ort fol ios al inc lud so e |
||
| tric ted its res un |
Source: LEG; shareholdings according to voting rights notifications
| D t a e |
/ R t E t e p o r e n v |
|---|---|
| 0 8. 0 5. 2 0 1 8 |
Q l R Q 1 f 3 1 M h 2 0 1 8 t t u a r e r y e p o r a s o a r c |
| 1 4. 1 0 2 0 1 8 5. 5. - |
R d h L d D h B k t o a s o w o n o n, e u s c e a n |
| 1 0 2 0 1 8 7. 5. |
A l G l M i D ü l d f t n n a e n e r a e e n g, s s e o r u |
| 2 9. 0 5. 2 0 1 8 |
C G K l h P t D P i e p e r e r e e r m a n r o p e r a a r s u v u x y y, |
| 3 0. 0 5. 2 0 1 8 |
S K E P t i A t d e m p e n r o p e a n r o p e r e m n a r, m s e r a m u y |
| 0 8. 0 6. 2 0 1 8 |
D t h B k d b A C f B l i e u s c e a n c c e s s o n e r e n c e, e r n |
| 2 1. 0 6. 2 0 1 8 |
M S t l E & E M E A P t C f L d o r g a n a n e y u r o p e r o p e r y o n e r e n c e, o n o n |
| 1 0. 0 8. 2 0 1 8 |
Q t l R t Q 2 f 3 0 J 2 0 1 8 u a r e r y e p o r a s o u n e |
| 0 9. 1 1. 2 0 1 8 |
Q l S Q 3 f 3 0 S b 2 0 1 8 t t t t t u a r e r y a e m e n a s o e p e m e r |
Head of Investor Relations &Strategic Business AnalysisTel: +49 (0) 211 [email protected]
Manager Investor Relations & Strategic Business AnalysisTel: +49 (0) 211 [email protected]
Manager Investor Relations & Strategic Business AnalysisTel: +49 (0) 211 [email protected]
40476 Düsseldorf, Germany E-Mail: [email protected]
LEG Immobilien AG Phone: +49 (0) 211 4568-400 Hans-Boeckler-Str. 38 Fax: +49 (0) 211 4568-22 204
Thank you for your interest.
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.