Regulatory Filings • Jul 9, 2014
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Corporate | 9 July 2014 17:33
alstria office REIT-AG: alstria leases 1,200 sqm in Frankfurt
alstria office REIT-AG / Key word(s): Miscellaneous
09.07.2014 / 17:33
Press release
alstria leases 1,200 sqm in Frankfurt
Hamburg, July 9, 2014 – alstria office REIT-AG (symbol: AOX, ISIN: DE000A0LD2U1), the leading German office REIT, announces the signature of new lease for its asset in Insterburger Strasse 16, Frankfurt.
With the lease-up of the building Insterburger Strasse 16 in Frankfurt, alstria continues to take advantage from the current demand for efficient office space. The new tenant, a leading real estate service company, signed a long-term lease for 1,200 sqm of office space. The lease was brokered by ENGEL & VÖLKERS COMMERCIAL, Frankfurt and will start on November 1, 2014.
alstria acquired the 13,400 sqm asset in 2011 and was able to significantly improve the leasing profile of the building over the past three years. Following alstria’s active asset management approach the occupancy rate increased from 74% to 84% and the average lease-term more than doubled from 2.6 years to 5.4 years.
“We are using the strong momentum in the leasing market to our advantage”, says Olivier Elamine, CEO of alstria. “Our leasing success demonstrates that an efficient asset in combination with a competitive pricing provides attractive opportunities even in a market as competitive as Frankfurt”.
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 March 31, 2014 the portfolio comprised 75 properties with an aggregate lettable space of 891,000 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
09.07.2014 Dissemination of a Corporate News, transmitted by DGAP – a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP’s 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 |
| - - - |
| 277351 09.07.2014 |
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