Earnings Release • Jul 28, 2014
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Corporate | 28 July 2014 17:34
alstria office REIT-AG: alstria records substantial asset management success in Ditzingen/Stuttgart
alstria office REIT-AG / Key word(s): Miscellaneous
28.07.2014 / 17:34
Press release
alstria records substantial asset management success in Ditzingen/Stuttgart
– New 20-year lease with leading German DIY chain Hagebau
– Creating additional value from unused land
Hamburg, July 28, 2014 – alstria office REIT-AG (symbol: AOX, ISIN: DE000A0LD2U1), the leading German office REIT, announces that it has agreed to develop a 10,000 sqm building on its asset Siemensstrasse 31-33 in Ditzingen near Stuttgart, which will be leased by an operator of the leading German DYI chain Hagebau.
alstria and Hagebau, one of the leading do-it-yourself stores in Germany, have agreed on the construction and long-term lease of a building supply store in Ditzingen. The lease contract will have a maturity of 20 years and is planned to start early 2016. alstria will develop the new 10,000 sqm do-it-yourself store making use of available land in Siemensstrasse 31-33, Ditzingen. The transaction was brokered by Ellwanger & Geiger Team Industrie und Logistikimmobilien.
The lease to Hagebau is alstria’s second success for the asset in Ditzingen this year. In June 2014 the Company signed an early lease extension and a partial lease-up of vacant office space with the main tenant for the existing office building in Siemensstrasse 31-33. The new lease contract has a maturity of five years and comprises around 10,200 sqm of office and ancillary space, bringing the occupancy rate of the asset to 100%.
“While alstria is an office REIT, we do look at alternative developments to create further value for the benefit of our shareholders, if and when available”, said Olivier Elamine, CEO of alstria. “Our office asset in Ditzingen has a substantial amount of land attached to it, and the work of our asset management team, which involves a planned zoning change and a possible sale of part of the land to the City of Ditzingen, allows us to value this asset in the best possible way”.
Contact:
Ralf Dibbern, IR/PR
Phone: +49 (0) 40 226 341 329
Email: [email protected]
More information on:
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 June 30, 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.
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.
End of Corporate News
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| 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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| 279645 28.07.2014 |
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