The Alte Post building is one of the best-known
buildings in the Hanseatic City of Hamburg. It is located at the corner of
Poststrasse and Grosse Bleichen (Poststrasse 11), and was built between 1845
and 1847 on the basis of plans by the artist and architect Alexis de
Chateauneuf. While restoring the historical façade, the inner structure of the building
was completely rebuild over the past two years and converted into high-end
office and retail space.
The closing of the transaction is subject to
customary condition precedents for this kind of transaction, and is expected to
close in the second quarter of 2012.
In 2008 Quantum Immobilien AG, Stenham Property
Ltd and alstria office REIT-AG
entered into a joint venture for the refurbishment of the Alte Post building in
Hamburg.
About alstria VII Hamburgische Grundbesitz GmbH &
Co. KG
alstria
VII. Hamburgische Grundbesitz GmbH & Co. KG is a joint venture between alstria office REIT-AG
on the one hand, and Quantum Immobilien AG and Stenham on the other hand, based
in Oststeinbeck. The company’s only asset is the Alte Post building in Hamburg
which was acquired in 2006.
About Quantum Immobilien AG
Hamburg-based
Quantum Immobilien AG was founded by Frank Gerhard Schmidt and Philipp
Schmitz-Morkramer in 1999. It is an independent real estate group combining wide-ranging expertise
in the areas of project development, institutional investment products and the
management of real estate investments. The group’s activities focus on
metropolitan areas in Germany.
In its fund operations Quantum Immobilien AG
offers investors various special real estate funds via its capital investment
company as well as alternative investment products that do not fall under the
German Investment Act (Investmentgesetz). From the end of 2005 until today
assets under management have increased to around 1.7 billion Euros. The Project
Development division covers the realization of the group’s own real estate
projects and joint ventures within the framework of entrepreneurial
investments. To date development projects with floor space in excess of 800,000
sqm and total investment costs of around 1.9 billion Euro have been
implemented.
About alstria
alstria office REIT-AG is the
leading German 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. alstria office REIT-AG owns a diversified
portfolio of properties across attractive German office real estate markets. Its
current portfolio comprises 80 properties with an aggregate lettable space of
approx. 864,000 sqm. 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:
alstria.blogspot.comwww.twitter.com/alstria_REIT
Contact Quantum
Immobilien AG:
Judith ElmendorfPhone: +49 - 40 41 43 30-512
Email: je@quantum.ag
Contact alstria office REIT-AG:
Ralf DibbernIR/PR
Phone: +49 - 40 - 226 341-329
Email: ir@alstria.de
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.
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