GxP German Properties AG

  • WKN: A2E4L0
  • ISIN: DE000A2E4L00
  • Land: Deutschland

Nachricht vom 25.06.2018 | 07:30

GxP German Properties AG: GxP German Properties Completes Two Lettings in Erfurt

DGAP-News: GxP German Properties AG / Key word(s): Real Estate

25.06.2018 / 07:30
The issuer is solely responsible for the content of this announcement.


GxP German Properties Completes Two Lettings in Erfurt

- About 5,780 sqm let on new lease

- Roughly another 2,040 sqm let in lease renewal

Berlin, 25 June 2018 - GxP German Properties AG (ISIN: DE000A1YCNN8, WKN: A1YCNN) just completed two successful lettings in an office building in Erfurt. For one thing, a new lease agreement for a total of 5,780 square metres of office space was signed for a term of six years. Secondly, an existing lease for roughly 2,040 square metres of office space was extended by another two years.

The two lease agreements add up to an annual net rent total of approximately 647,000 euros. The successful lettings increased the annualised rent revenues from this property to now 2.34 million euros per year.

At the same time, the building's occupancy improved to 86.7 percent as a result of the new lease signed. The weighted average lease terms (WALT) of all rentals at this property rose to 3.0 years, up from 1.4 years as recently as 30 April 2018. The office building was acquired by institutional investors together with GxP, who manages it on a third-party mandate. The office building is located at Europaplatz 1-7.
 

Press Contact:
RUECKERCONSULT GmbH
Peter Dietze-Felberg
Wallstr. 16
D-10179 Berlin
TEL.: +49 (0)30 28 44 987 62
E-MAIL: gxp@rueckerconsult.de
 

Investor Relations:
GxP German Properties AG

Europa Center 9th floor
Tauentzienstr. 9
D-10789 Berlin
TEL.: +49 (0)30 886 267 40
FAX: +49 (0)30 886 267 411
E-MAIL: info@gxpag.com
 

About GxP German Properties AG

Based in Berlin, GxP German Properties AG concentrates on the acquisition, portfolio management and asset management of office and retail real estate in Germany. The company's investment focus includes attractive commercial real estate in the segments "core+" and "value-add" in the country's metro regions as well as in selected midsize German cities. The strategy pursued by the company is to raise appreciation potential through active portfolio management, and to secure sustainable rent revenues at the same time. To this end, it relies on its long-term experience on the real estate market and its comprehensive network.

For more details, go to the company's homepage at www.gxpag.com



25.06.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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