Corporate | 20 November 2007 09:17
alstria office REIT-AG / Contract
Release of a Corporate News, transmitted by DGAP - a company of EquityStory
AG.
The issuer / publisher is solely responsible for the content of this announcement.
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alstria office REIT-AG executes its first G-REIT driven transaction
# Total acquisition cost at EUR 62 m
# G-REIT key determinant for the transaction
# Sale and lease-back transaction with a yield of 6.1 %
Hamburg, November 20, 2007 – alstria office REIT-AG (symbol: AOX, ISIN:
DE000AOSDZU1), an internally managed Real Estate Investment Trust (REIT)
which is solely focused on acquiring, owning and managing office real
estate in Germany, announces herewith the signing of a purchase agreement
about the acquisition of an office park in Essen under a sale and
lease-back transaction.
The asset will be acquired for an all-in cost of approximately EUR 62 m
(approximately EUR 1,700 per sqm) and will generate a passing rent of
approximately EUR 3.8 m per annum. The closing of the transaction is
expected to occur at the end of December and it will be financed through
the existing credit facility.
The property is an office park with a total lettable area of approximately
36,500 sqm. Under the sale and lease-back construction, mfi AG, a leading
actor in the fields of shopping centers, will transfer its headquarters to
the complex. Amongst the other tenants are major corporations including
Bosch Siemens Hausgeraete, Versatel and General Electrics. The weighted
average unexpired lease term is 6.7 years and the occupancy rate of the
property is around 88 percent.
'This first exit tax driven transaction clearly demonstrates the
competitive advantage of the G-REIT status', says Olivier Elamine, CEO of
alstria. 'We are delighted to have this transaction completed just a month
following our REIT conversion, and are in the process of sizing other REIT
driven opportunities. We refrained from buying in the first six months of
the year, when the market was at its top, but now we increasingly see
attractive opportunities in the market' Mr. Elamine added.
Alexander Dexne, CFO of alstria, underlines: 'With an acquisition yield of
6.1 percent and a marginal cost of financing of around 5.2 percent as of
today, this transaction will have an immediate positive impact on our
earning per share as well as our FFO.'
About alstria office
alstria office REIT-AG (alstria office) is a real estate company which is
solely focused on acquiring, owning and managing office real estate in
Germany. alstria office was founded in January 2006 and its headquarters
are based in Hamburg.
alstria office REIT-AG owns a diversified portfolio of properties across
attractive German office real estate markets. Its current portfolio
comprises 71 properties with an aggregate lettable space of approximately
770,000 sqm and is valued at approximately Euro 1.6 billion. This includes
an office building in the city centre of Munich for which a binding sale
and purchase agreement was signed on 4 May 2007.
alstria office intends to expand its portfolio significantly in the
upcoming years as part of a sustainable growth strategy based on selective
investments and active asset and portfolio management as well as on
establishing and maintaining good relationships with its key customers and
decision makers.
For further information, please see: www.alstria.com
Disclaimer
This release constitutes neither an offer to sell nor a solicitation of an
offer to buy any securities. The securities have already been sold.
This release and the information contained herein are not for distribution
in or into the United States of America and must not be distributed to U.S.
persons (as defined in Regulation S of the U.S. Securities Act of 1933, as
amended ('Securities Act')) or to publications with a general circulation
in the United States. This release does not constitute an offer or
invitation to purchase any securities in the United States. The securities
of Alstria Office AG have not been registered under the Securities Act and
may not be offered, sold or delivered within the United States or to U.S.
persons absent registration or an exemption from the registration
requirements of the Securities Act. There will be no public offering of
securities in the United States of America.
This document is directed only at persons (i) who are outside the United
Kingdom or (ii) who have professional experience in matters relation to
investments falling within Article 19(5) of the Financial Services and
Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the
'Order') or (iii) who fall within Article 49(2) (a) to (d) ('High net worth
companies, unincorporated associations etc.') of the order (all such
persons together being referred to as 'relevant persons'). Any person who
is not a relevant person must not act or reply on this communication or any
of its contents. Any investment or investment activity to which this
communication relates is available only to relevant persons and will be
engaged in only with relevant persons. This document is not directed at
private customers, as defined by the Financial Services Authority in the
UK, who should not rely on this communication.
Dr. Charlotte Brigitte Looß
Manager Public Relations & Investor Relations
Tel.: +49 – 40 – 226 341 329
Fax: +49 – 40 – 226 341 310
Email: bloos@alstria.de
20.11.2007 Financial News transmitted by DGAP
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Language: English
Issuer: alstria office REIT-AG
Fuhlentwiete 12
20355 Hamburg
Deutschland
Phone: +49 (0)40 226 341 300
Fax: +49 (0)40 226 341 310
E-mail: info@alstria.de
Internet: www.alstria.de
ISIN: DE000A0LD2U1
WKN: A0LD2U
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Hamburg, München, Stuttgart
End of News DGAP News-Service
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