GxP German Properties AG
- WKN: A2E4L0
- ISIN: DE000A2E4L00
- Land: Deutschland
Nachricht vom 16.07.2018 | 07:10
GxP German Properties AG: GxP German Properties Successfully Completes Additional Lettings in Erfurt, Hanover and Neu-Isenburg
DGAP-News: GxP German Properties AG / Key word(s): Real Estate
GxP German Properties AG (ISIN: DE000A1YCNN8, WKN: A1YCNN) successfully completed another three lettings, this time involving office buildings in Erfurt, Hanover and Neu-Isenburg. All three of the deals represent lease renewals with incumbent tenants.
In the office building in Erfurt, which is located at Europaplatz 1-7 and has 31,790 square metres of lettable area, a government authority that occupies the building's largest rental unit of around 7,372 square metres extended its lease by ten years to end on 31 December 2028. As a result, the weighted average unexpired lease term (WALT) increased from 3.0 years to 5.0 years as of 01 July 2018. The office building was acquired in November 2016 by institutional investors together with GxP, who manages it on a third-party mandate.
The asset in Hanover, located at Rotenburger Strasse 24-28, represents an office building with a gross lettable area of around 11,068 square metres. Here, the lease of a dialogue marketing agency, which occupies around 1,880 square metres of office space in the building, was extended by another two years through 31 December 2020.
This building was acquired by institutional investors together with GxP German Properties AG in October 2015 and is managed by GxP on a third-party mandate. It is rented out to 98.75 percent and generates a net rent of approximately 1.09 million euros per year. The lease renewal pushed the weighted average unexpired lease term from 2.00 to 2.34 years as of 30 June 2018.
In the property in Neu-Isenburg, the unexpired lease with a software system consultancy for around 462 square metres of office space was extended by another six years and will end on 30 November 2024. The building is located at Siemensstrasse 12 and provides a gross lettable area of around 7,500 square metres. GxP bought it in December 2016 as part of the Thor portfolio, and it currently generates an annual net rent of more than 486,000 euros. The lease renewal pushed the weighted average unexpired lease term from 2.95 to 3.62 years as of 30 June 2018.
About GxP German Properties AG
For more details, go to the company's homepage at www.gxpag.com
|Company:||GxP German Properties AG|
|Phone:||+49 (0)30 263 91 44 10|
|Fax:||+49 (0)30 263 91 44 99|
|Listed:||Regulated Unofficial Market in Dusseldorf, Frankfurt (Basic Board), Hamburg, Munich, Stuttgart|
|End of News||DGAP News Service|
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