Wednesday, July 20, 2011

alstria acquires an office building in Stuttgart

  • 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


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.

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Language: English

Company: alstria office REIT-AG
Bäckerbreitergang 75
20355 Hamburg

Phone: 040-226 341 300
Fax: 040-226 341 310
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Hamburg, München, Stuttgart

End of News DGAP News-Service


132567 20.07.2011

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