alstria office REIT-AG

Related Party Transaction • Sep 7, 2009

News Details

Corporate | 7 September 2009 07:10

alstria office REIT-AG: alstria successfully sold further real estate assets

alstria office REIT-AG / Miscellaneous

07.09.2009

Dissemination of a Corporate News, transmitted by

DGAP – a company of EquityStory AG.

The issuer / publisher is solely responsible for the content of this announcement.

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alstria successfully sold further real estate assets

– Step-by-step deleveraging strategy continued

– Disposal prices exceed latest fair values by an average of 6%

– Total disposal amount of around EUR 15.5 m increases financial

flexibility

HAMBURG, September 7, 2009 – alstria office REIT-AG (symbol: AOX, ISIN:

DE000A0LD2U1), an internally managed Real Estate Investment Trust (REIT)

which is solely focused on acquiring, owning and managing office real

estate in Germany, today reports that it has agreed on the disposal of

further three real estate assets.

The selected assets located in Hamburg are office buildings with a total

lettable area of approximately 6,000 sqm. One of the assets is a

multi-tenant-asset located in the centre of Hamburg, while the other two

are single-tenant-assets located outside the city centre in residential

areas. The buildings are let on an average remaining lease length of 3.5

years, compared to the alstria’s average lease length of approximately 9

years.

The total sales prices for the assets of approximately EUR 15.5 million

reflect a premium of around 5% compared to year end numbers of 2008 and 6%

to half year IFRS results of 2009. The assets were sold at an average yield

on cost of around 5.8%.

The disposals follow alstria’s overall strategy put in order to manage the

overall balloon payment of its main facility which matures at the end of

2011. This strategy includes the renegotiation of the LTV covenants which

occurred in the first quarter 2009, selected asset sales, and selected non

recourse financing of assets as those completed in the first half of 2009.

‘In an overall depressed investment market, these new sales in Hamburg

allow alstria to claim more than 15% of the total office investment market

so far this year’, said Olivier Elamine CEO of alstria. ‘In a market where

buyers are more selective than ever, this is a testimony of the high

quality of our assets, and their attractiveness to the market’.

About alstria:

alstria office REIT-AG (alstria) is an internally managed Real Estate

Investment Trust (REIT) solely focused 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

based in Hamburg.

alstria owns a diversified portfolio of properties across attractive German

office real estate markets. Its current portfolio comprises 89 properties

with an aggregate lettable space of approximately 933,000 sqm and is valued

at approximately EUR 1.8 billion.

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.

For further information, please see:

www.alstria.com

alstria.blogspot.com

Disclaimer:

This release constitutes neither an offer to sell nor a solicitation of an

offer to buy any securities. The securities have already been sold.

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.

Media:

Christian Falkowski

Phone: +49 – 40 – 226 341 340

Email: pr@alstria.de

Investor Relations:

Brigitte Büchner

Phone: +49 – 40 – 226 341 319

Email: ir@alstria.de

07.09.2009 Financial News transmitted by DGAP

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Language: English

Company: alstria office REIT-AG

          Bäckerbreitergang 75

          20355 Hamburg

          Deutschland

Phone: 040-226 341 300

Fax: 040-226 341 310

E-mail: info@alstria.de

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, München, Hamburg, Stuttgart

End of News DGAP News-Service

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