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alstria office REIT-AG
M&A Activity • Feb 21, 2019
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M&A Activity
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News Details
Corporate | 21 February 2019 17:40
alstria office REIT-AG: alstria increases its capital recycling activities and the focus of the portfolio
DGAP-News: alstria office REIT-AG / Key word(s): Miscellaneous
21.02.2019 / 17:40
The issuer is solely responsible for the content of this announcement.
Press Release
alstria increases its capital recycling activities and the focus of the portfolio
Hamburg, February 21, 2019 – alstria office REIT-AG (symbol: AOX, ISIN: DE000A0LD2U1) announces the sale of one residential and two office properties, and the acquisition of three new assets in Berlin and Stuttgart.
alstria has sold the following assets in three independent transactions: Opernplatz 2 in Essen, Ingersheimer Str. 20 in Stuttgart and Brödermannsweg 5-9 in Hamburg (residential part of the property in Borsteler Chaussee 111-113) . The three assets have a total lettable area of around 38,200 square meters, generated a combined annual rental income of EUR 4.8 million (EUR 10.40 per m 2 ) and are fully let. They were sold for a total consideration of EUR 85.8 million (EUR 2,248 per m 2 ), which represent a premium of 21% to the latest appraised value as of December 31, 2018. The two office properties were sold to owners’ occupiers. In parallel, alstria acquired in independent transactions three office buildings, located in Berlin (Wilmersdorf and Tiergarten) and Stuttgart (Handwerkstr. 4) with a combined lettable area of 20,300 square meters at a total AIC of EUR 62.2 million (EUR 3,064 per m 2 ) and an annual rental income of EUR 1.7 million (EUR 7.20 per m 2 ) and a combined vacancy rate of 18%.
“We will continue to take advantage of the strong investment market that we currently see in Germany to streamline and improve the overall quality of the portfolio and will accelerate pace of capital recycling if market conditions remain strong”, says Olivier Elamine, Chief Executive Officer of alstria.
Contact IR/PR:
Ralf Dibbern
Steinstr. 7
20095 Hamburg
+49 (0) 40 226 341 329
Further information:
www.beehive.work
About alstria:
alstria office REIT AG is the leading real-estate operator focusing solely on German office property in selected German markets. Our strategy is based on the ownership and an active management of our properties throughout their entire life cycle, strong added-value services to our customers and deep knowledge of the markets in which we operate. alstria strives for sustainable long-term value creation while taking advantage of short-term arbitrage of inefficiencies in the real estate markets. The portfolio comprises 118 buildings with a lettable area of 1.6 million square meters and a total portfolio value of EUR 4.0 billion.
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.
21.02.2019 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: | alstria office REIT-AG |
| Steinstraße 7 | |
| 20095 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: | MDAX, EPRA, German REIT Index |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; London, Luxembourg Stock Exchange, SIX, Vienna Stock Exchange |
| End of News | DGAP News Service |