DGAP-News: alstria office REIT-AG: alstria acquires office buildings in Dusseldorf and Frankfurt
(firmenpresse) - DGAP-News: alstria office REIT-AG / Key word(s): Miscellaneous
alstria office REIT-AG: alstria acquires office buildings in
Dusseldorf and Frankfurt
06.07.2011 / 07:27
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Press release
alstria acquires office buildings in Dusseldorf and Frankfurt
- VastNed O/I German portfolio consists of five properties located in
Dusseldorf and Frankfurt
- Total investment volume of EUR 89 m
- Short-term lease and high vacancy offer significant potential
Hamburg, July 6, 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 a value-add property portfolio from
VastNed O/I.
The VastNed O/I portfolio will be acquired for a total base consideration
(AIC) of approximately EUR 89 m and currently generates a passing rent of
around EUR 6.8 m per annum, reflecting an initial yield on cost of around
7.6%. The rental income of the portfolio will drop to EUR 4.5 m in 2012,
following the termination of a number of existing leases. The total vacancy
rate in the portfolio as of the 1st of January 2012 will be 41%.
'Following the execution of this transaction, we will have invested the
funds raised in the last capital increase, in line with our announcement in
March', said Olivier Elamine, CEO of alstria. 'We think it's the right time
to take up some more operational risk and benefit from the strong tenant
demand supported by the sustainable growth of the German economy. The
assets we have acquired offer substantial value creation potential, which
will be unlocked by alstria's proven asset management expertise.'
The closing of the transaction is expected to take place within the third
quarter of 2011. Given alstria's current cash on hand the transaction will
be financed all equity for the time being. It will be refinanced in a
second step in line with the company's communicated financial policy.
VastNed O/I German Portfolio overview as of January 1, 2012:
Address Tot.let.area sqm Vac.area sqm Vacancy ann.net rent EUR WAULT years
Emanuel-Leutze-Strasse 11
Dusseldorf 8,600 2,200 26% 796,700 1.2
Hans-Böckler-Strasse 36
Dusseldorf 7,900 7,900 100% 0 0.0
Insterburgerstrasse 16
Frankfurt/M. 13,400 3,100 23% 1,752,600 2.9
Kaistrasse 16/16a/18
Dusseldorf 9,500 1,000 11% 1,986,000 3.0
Mainzer Landstrasse 33a
Frankfurt/M. 3,300 3,300 100% 0 0.0
Total 42,700 17,500 41% 4,535,300 2.6
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 74
properties with an aggregate lettable space of approximately 813,000 sqm
and is valued at approximately EUR 1.4 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(at)alstria.de
www.alstria.de
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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06.07.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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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(at)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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131005 06.07.2011
Datum: 06.07.2011 - 07:27 Uhr
Sprache: Deutsch
News-ID 34544
Anzahl Zeichen: 0
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Kategorie:
Business News
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