M&A Activity • Oct 23, 2014
M&A Activity
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Corporate | 23 October 2014 17:35
alstria office REIT-AG: HIH buys Office Property for Warburg-Henderson from alstria
alstria office REIT-AG / Key word(s): Real Estate
23.10.2014 / 17:35
Press release
HIH buys Office Property for Warburg-Henderson from alstria
– alstria sells office building “Englische Planke 2” in Hamburg
Hamburg, October 23, 2014 – alstria office REIT-AG (symbol: AOX, ISIN: DE000A0LD2U1), Germany’s leading office REIT, announces the sale of its asset “Englische Planke 2”, a 4,600 sqm office building in Hamburg. HIH Hamburgische Immobilien Handlung is buying the property within the framework of its mandate as exclusive asset and transaction manager of Warburg-Henderson Kapitalanlagegesellschaft für Immobilien mbH, which has earmarked the building for its property special fund “Immobilien-Fonds Norddeutscher Versorgungs-werke”. The fund invests solely in Northern Germany.
The property was sold for a total consideration of EUR 15.5 million. alstria acquired the building, which was raised in 2002, in early 2011 as part of a EUR 20 million portfolio transaction. During alstria’s ownership, the vacancy rate of the multi-tenant building was substantially reduced. Today the asset generates an annual rent of EUR 912k.
The transaction is expected to close in the fourth quarter of 2014 and was brokered by Angermann GmbH.
About alstria:
/alstria office REIT-AG is an internally managed Real Estate Investment Trust (REIT) focused solely on acquiring, owning and managing office real estate in Germany. alstria was founded in January 2006 and was converted into the first German REIT in October 2007. Its headquarters are in Hamburg. The Company owns a diversified portfolio of properties across attractive German office real estate markets. As of 30 June 2014, the portfolio comprised 74 properties with an aggregate lettable space of 881,300 sqm and is valued at approximately EUR 1.6 bn. The alstria office REIT-AG strategy is based on active asset and portfolio management as well as on establishing and maintaining good relationships with key customers and decision makers. alstria focuses on long-term real estate value creation.
About HIH Hamburgische Immobilien Handlung:
For decades, HIH Hamburgische Immobilien Handlung GmbH (HIH) has pooled the property-related investment and service activities for the Warburg Group. M.M. Warburg & CO was founded in Hamburg in 1798, and is one of Germany’s major independent private banks. HIH has developed and created international investment products for institutional and private investors for more than 20 years, and has demonstrable know-how in launching closed-end fund products, especially in the form of private placements. Domiciled in Hamburg, and employing more than 240 professionals, HIH has approximately EUR 5billion in property assets under management today.
About Warburg – Henderson
Warburg – Henderson Kapitalanlagegesellschaft für Immobilien mbH, Hamburg, is a real estate Investment Manager for institutional investors. The company devises and implements solutions that give investors access to all major markets. Warburg – Henderson works with best in class Asset Managers and applies structures that best serve investor targets. Warburg – Henderson currently manages 18 property funds for over 100 German and international institutional investors, the majority of which are real estate special funds investing in European commercial properties. The assets under management amount to approx. EUR4.4bn as at 30 September 2014. Shareholders of Warburg – Henderson are M.M.Warburg & CO and TIAA Henderson Real Estate.
/Contact:
Ralf Dibbern, IR/PR
alstria office REIT-AG
Phone: +49 (0) 40 226 341 329
Email: [email protected]
Markus Meinecke
HIH Hamburgische Immobilien Handlung GmbH
Email: [email protected] / Phone: +49 (0) 40 32 82 32 42
Gertrudenstraße 9, 20095 Hamburg
Nadine Friederichs
ergo Kommunikation
Email: [email protected] / Phone: +49 (0) 221 912 887-47
www.warburg-henderson.com
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.
23.10.2014 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.
Media archive at www.dgap-medientreff.de and www.dgap.de
| Language: | English |
| Company: | alstria office REIT-AG |
| Bäckerbreitergang 75 | |
| 20355 Hamburg | |
| Germany | |
| Phone: | 040-226 341 300 |
| Fax: | 040-226 341 310 |
| E-mail: | [email protected] |
| Internet: | http://www.alstria.de |
| ISIN: | DE000A0LD2U1 |
| WKN: | A0LD2U |
| Indices: | SDAX, EPRA, German REIT Index |
| Listed: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Hamburg, München, Stuttgart |
| End of News | DGAP News-Service |
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| 293098 23.10.2014 |
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