DGAP-News: POLIS Immobilien invests in Dresden's office property market
(firmenpresse) - DGAP-News: POLIS Immobilien AG / Key word(s): Contract/Miscellaneous
POLIS Immobilien invests in Dresden's office property market
13.01.2011 / 09:15
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Acquisition of four office properties in good downtown location in Dresden
Letting performance doubled in 2010 compared to 2009
Berlin, January 13, 2011 - POLIS Immobilien AG [ISIN: DE0006913304] has
acquired three office buildings in downtown Dresden and plans to buy a
fourth one shortly. The office properties are situated in an excellent city
centre location at Altmark, in Kramergasse, at Palaisplatz and in
Könneritzstraße. The buildings have a total lettable space of approx.
31,000 square metres. The properties were sold by different member
companies of Allianz, which were represented by Allianz Real Estate Germany
GmbH. The parties agreed not to disclose the purchase price. The
acquisition marks POLIS' entry in the Dresden market, with the portfolio
immediately placing the company in a prominent position in the city. The
specialist for the modernisation and management of office properties
pursues a strategy of investing in office properties in inner-city
locations at the most important German office centers. 'This is an
opportunity for us to acquire new building projects as well as an
excellently renovated old building in a very good location of the Saxon
capital,' says Dr. Alan Cadmus, CEO of POLIS. All buildings have a very
good technical standard. Most of the office space is let to tenants from a
local background, which reduces the risk from rental losses and expiring
leases and makes POLIS Immobilien less dependent on individual sectors. 73
percent of the buildings is let at present. POLIS Immobilien intends to let
the remaining space soon to achieve value increases. 'The acquisition is
consistent with our intention to expand our office property portfolio and
seize opportunities in interesting locations such as Dresden,' says Dr.
Alan Cadmus.
Significant potential in Dresden
Dresden's economy is based on a wide range of different companies. Sectors
such as mechanical and plant engineering as well as the food and printing
industries have a strong presence in the city. Dresden is a respected,
dynamic place for business and science. This includes the growing
up-and-coming sectors of microelectronics, information and communication
technology, nanotechnology as well as life science/biotechnology. Global
players such as Infineon Technologies or Quimonda have a presence in the
city. These companies benefit from almost 40 research institutes (including
eleven institutes of Fraunhofer-Gesellschaft, five institutes of
Max-Planck-Gesellschaft and three institutes of Leibniz-Gemeinschaft).
Nicknamed 'Florence on the Elbe' because of its many baroque buildings,
Dresden, the capital of Saxony, has a population of over 500,000 and is an
important economic and cultural centre in the region. Some 1.3 million
people live in the Greater Dresden region. In contrast to other east German
cities, Dresden has seen its population grow in recent years. There is a
positive trend in the market for office properties. In the first half of
2010, letting revenues were up by 13 percent on the same period of the
previous year (source: 'Büromarkt Deutschland im 1. Halbjahr 2010', Makler
Dr. Lübcke). The real estate experts expects the vacancy rate to continue
to decline in 2011.
Besides the acquisition of office buildings, POLIS Immobilien is optimising
its portfolio by selling properties in cities that are not among the
company's core locations. In 2010, the company sold four properties. At the
same time, the space let by the company doubled from 10,200 square metres
in 2009 to approx. 21,000 square metres in 2010.
POLIS Immobilien AG, which was founded in Berlin in 1998, is listed real
estate company that buys, refurbishes/revitalises, and manages office
properties for its own portfolio. The company focuses on one market
segment: office properties in inner-city locations at the most important
German office centres. The company acquires properties that are either
already renovated and are completely let, thereby generating stable cash
flow, or properties that are vacant or require modernisation, and which
offer specific value appreciation potential. This potential may be realised
by corresponding modernisation measures or full revitalisation. POLIS
Immobilien's real estate portfolio comprised at the end of the third
quarter 2010 a total of 31 properties with a market value of around EUR 293
million. The number increased now by 4 properties. POLIS Immobilien
shares are listed on the regulated market (Prime Standard) of the Frankfurt
Securities Exchange. Further information can be found at www.polis.de.
Investor Relations
Dr. Alan Cadmus
POLIS Immobilien AG
Tel: +49 30 225 00-250
E-Mail: ir(at)polis.de
URL: www.polis.de
Press contact:
Britta Cirkel
HOSCHKE&CONSORTEN Public Relations GmbH
Tel: +49 40 36 90 50- 56
E-Mail: b.cirkel(at)hoschke.de
End of Corporate News
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13.01.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: POLIS Immobilien AG
Rankestraße 5/6
10789 Berlin
Deutschland
Phone: +49 30 225 00-261
Fax: +49 30 225 00-299
E-mail: info(at)polis.de
Internet: www.polis.de
ISIN: DE0006913304
WKN: 691330
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Hamburg, München
End of News DGAP News-Service
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108838 13.01.2011
Datum: 13.01.2011 - 09:15 Uhr
Sprache: Deutsch
News-ID 32991
Anzahl Zeichen: 0
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Kategorie:
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