- Total investment volume of EUR 15.9 m
- Annual rent of EUR 1.3 m and average lease term of 4.8 years
Hamburg, July 20, 2011 - alstria office
REIT-AG (symbol: AOX, ISIN: DE000A0LD2U1), the leading German office
REIT, focused solely on acquiring, owning and managing office real estate in
Germany, is announcing that it has agreed on the acquisition of an office
building in Stuttgart.
The property is acquired for an all-in cost
of EUR 15.9 m (EUR 1,903 per sqm). The property, which is mainly rented
to the local authorities, generates an annual rental income of EUR
1.3 m and has an average lease term of 4.8 years. This acquisition is
reflecting an initial yield on cost of 8.2%.
'Following the announcement of the
acquisition of the VastNed portfolio, this acquisition testifies once more our
ability to source attractive opportunities in the German office market',
said Olivier Elamine, CEO of alstria.
The closing of the transaction is expected
to happen in the course of the third Quarter of 2011.
The transaction was brokered by Colliers
Bräutigam & Krämer GmbH & Co. KG, and alstria was advised by trûon
Rechtsanwälte LLP.
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. Its
current portfolio comprises 79 properties with an aggregate lettable space
of approx. 856,000 sqm and is valued at approximately EUR 1.5 bn. alstria
office REIT-AG's 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 contact:
Ralf Dibbern, IR/PR
Phone: +49 (0) 40 / 226 341-329
Email: rdibbern@alstria.de
www.alstria.com
www.alstria.blogspot.com
www.twitter.com/alstria_REIT
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: info@alstria.de
Internet: http://www.alstria.de
ISIN: DE000A0LD2U1
WKN: A0LD2U
Listed: Regulierter Markt in Frankfurt
(Prime Standard);
Freiverkehr in Berlin, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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