PREOS Real Estate AG

  • WKN: A2LQ85
  • ISIN: DE000A2LQ850
  • Land: Deutschland

Nachricht vom 04.02.2020 | 09:12

PREOS Real Estate AG plans to purchase properties worth up to EUR 2 billion in 2020

DGAP-News: PREOS Real Estate AG / Key word(s): Real Estate
04.02.2020 / 09:12
The issuer is solely responsible for the content of this announcement.

PREOS Real Estate AG plans to purchase properties worth up to EUR 2 billion in 2020

- Real estate portfolio currently at around 1.1 billion euros

- In 2019 alone, properties worth almost 1 billion euros acquired and one large property sold

- Investment focus on large-volume properties over EUR 50 million market value


Leipzig, 04. February 2020 - PREOS Real Estate AG ("PREOS", ISIN DE000A2LQ850) has expanded its real estate portfolio to currently around EUR 1.1 billion and plans to purchase further properties with a total volume of around EUR 2 billion in 2020. The investment focus is on real estate with a market value of over EUR 50 million in each case in very good locations in major German cities such as Frankfurt am Main and Munich.

In 2019 alone, the subsidiary publity Investor GmbH acquired properties for the portfolio worth almost 1 billion euros. These include, for example, the Sky Germany headquarters near Munich with a total rental space of 30,390 square meters, the Access Tower in Frankfurt/Main, which is almost 21,000 square meters in size, and the Karstadt headquarters in Essen with a total rental space of approximately 100,000 square meters. Furthermore, the purchase agreement for the Centurion in Frankfurt/Main was notarised in 2019. The transaction will be closed during the first quarter of 2020. The sale of the approximately 26,000 square meter St. Martin Tower in Frankfurt/Main also enabled existing market opportunities to be successfully exploited. The PREOS portfolio currently consists of 19 properties with a lettable area of more than 300,000 square meters.

Frederik Mehlitz, CEO of PREOS Real Estate AG: "We are proud that we have been able to advance the expansion of our real estate portfolio so rapidly. Our planned rate of expansion for 2020 also remains high and we believe we are very well positioned for this. Decisive for this is the very good access to attractive properties through publity with its extensive property database of around 9,000 properties and the very broad network".

About PREOS Real Estate AG

PREOS Real Estate AG ("PREOS") is an active real estate investor focused on office properties. PREOS acts as an efficient management holding company. The acquisition focuses on office properties with development potential in German metropolitan regions. Value creation is generated by targeted asset management measures. Developed portfolio properties are sold in the event of adequate sales opportunities. The corporate strategy is to significantly expand the real estate portfolio through acquisitions in the coming years. The PREOS share (ISIN DE000A2LQ850) is listed in the over-the-counter segment m:access of the Munich Stock Exchange (PAG.MU) and on Xetra (PAG.DE). The company headquarters of PREOS is located in Leipzig.

Investor & Public Relations
edicto GmbH
Axel Mühlhaus
Eschersheimer Landstraße 42
60322 Frankfurt am Main
Phone +49(0) 69/905505-52
Mail: preos@edicto.de

 



04.02.2020 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.

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