DGAP-News: alstria office REIT-AG: alstria acquires an office building in Stuttgart
(firmenpresse) - DGAP-News: alstria office REIT-AG / Key word(s): Miscellaneous
alstria office REIT-AG: alstria acquires an office building in
Stuttgart
20.07.2011 / 07:04
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Press release
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
Email: rdibbern(at)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 thefield 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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20.07.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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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
Germany
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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132567 20.07.2011
Datum: 20.07.2011 - 07:04 Uhr
Sprache: Deutsch
News-ID 34644
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
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