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PREOS Global Office Real Estate & Technology
Regulatory Filings • Feb 9, 2021
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Corporate | 9 February 2021 08:16
PREOS Global Office Real Estate & Technology AG: PREOS Global Office Real Estate & Technology AG: Sale (1 February 2021) of Norman Foster property in Duisburg
DGAP-News: PREOS Global Office Real Estate & Technology AG / Key word(s): Disposal/Real Estate
09.02.2021 / 08:16
The issuer is solely responsible for the content of this announcement.
PREOS Global Office Real Estate & Technology AG: Sale (1 February 2021) of Norman Foster property in Duisburg
Leipzig, 09.02.2021 – PREOS Global Office Real Estate & Technology AG (“PREOS”, ISIN DE000A2LQ850) makes a flying start to 2021. Not six weeks into the new year, PREOS has successfully sold a prominent commercial property in Duisburg. Demonstrating the belief – and tangible opportunities for investors – in the German commercial real estate market, the buyer is a globally active European family office.
The property was acquired by PREOS group in 2018 and has generated a profit of around 20%.The parties have agreed not to disclose the purchase price. This beautiful asset is centrally located in Duisburg and features a solid and diversified multi-tenant structure. The architecturally striking building, known as the “House of Economic Development”, was designed by the globally-acclaimed British architect Sir Norman Foster.
The property showcases PREOS’ clear value proposition – delivering market intelligence coupled with high quality execution capabilities, with a focus on both material improvement of occupancy rates as well as quality and diversification of the long-term tenant base. Within the 3 years of PREOS’ ownership, their own asset management team successfully realized a nearly 300% increase in the occupancy rate (from 22 percent to the current 85 percent), comprised of multiple, sizable and reputable tenants.
Press Contact:
Financial Press and Investor Relations:
edicto GmbH
Axel Mühlhaus
Phone: +49 69 905505-52
Mail: [email protected]
About PREOS Global Office Real Estate & Technology AG
PREOS Real Estate & Technology AG (“PREOS”) is an active real estate investor focused on office properties. PREOS acts as an efficient management holding company. The acquisition focuses on office properties with development potential in German metropolitan regions. Value creation is generated by targeted asset management measures. Developed portfolio properties are sold in the event of adequate sales opportunities. The corporate strategy is to significantly expand the real estate portfolio through acquisitions in the coming years. The PREOS share (ISIN DE000A2LQ850) is listed in the over-the-counter segment m:access of the Munich Stock Exchange (PAG.MU) and on Xetra (PAG.DE). The company headquarters of PREOS is located in Leipzig.
09.02.2021 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.
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| Language: | English |
| Company: | PREOS Global Office Real Estate & Technology AG |
| Reichsstraße 2 | |
| 04109 Leipzig | |
| Germany | |
| Phone: | 0341 261787790 |
| E-mail: | [email protected] |
| Internet: | www.preos.de |
| ISIN: | DE000A2LQ850 |
| WKN: | A2LQ85 |
| Listed: | Regulated Unofficial Market in Frankfurt, Munich |
| EQS News ID: | 1166917 |
| End of News | DGAP News Service |