M&A Activity • May 22, 2013
M&A Activity
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Corporate | 22 May 2013 18:15
alstria office REIT-AG: Acquisition of an asset in Stuttgart
alstria office REIT-AG / Key word(s): Miscellaneous
22.05.2013 / 18:15
Press release
Acquisition of an asset in Stuttgart
– alstria acquires the asset Stadtterrassen in Stuttgart
– 8,600 sqm building is fully let to the State of Baden-Württemberg for another 3.5 years
Hamburg, May 22, 2013 – alstria office REIT-AG (symbol: AOX, ISIN: DE000A0LD2U1), the leading German office REIT, announces the acquisition of a fully let asset in downtown Stuttgart.
The asset known as Stadtterrassen will be acquired for an All-in-cost of around EUR 20 m. The transaction, which is still subject to standard closing condition precedent, will close on July 1, 2013.
The building is currently fully let to the State of Baden-Württemberg and generates an annual rental income of EUR 1.7 m. It will contribute around EUR 750 k to alstria’s FFO in 2013.
Asset manager Bilfinger Real Estate Argoneo, who managed the property since 2009, coordinated the transaction process on behalf of the seller. The transaction was brokered by Colliers International Stuttgart.
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, 2013 the portfolio comprised 82 properties with an aggregate lettable space of 919,000 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.
Contact:
Ralf Dibbern, IR/PR
Phone: +49 (0) 40 226 341 329
Email: [email protected]
More information on:
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
22.05.2013 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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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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| 212555 22.05.2013 |
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