Corporate | 6 March 2013 17:32

alstria office REIT-AG: Sale of an asset in Hamburg

alstria office REIT-AG / Key word(s): Miscellaneous

06.03.2013 / 17:32

Press release

Sale of an asset in Hamburg

– alstria sells an asset located in Kanalstrasse 44 in Hamburg

– 8,100 sqm building is located in a residential area

Hamburg, March 06, 2013 – alstria office REIT-AG (symbol: AOX, ISIN: DE000A0LD2U1), the leading German office REIT, announces the sale of an asset in Hamburg.

The asset located in Kanalstrasse 44 in Hamburg-Uhlenhorst was sold for EUR 15 m, representing a slight premium to the Dec. 31, 2012 appraised value. The transaction, which is still subject to standard closing condition precedent, is expected to close in the second quarter of 2013. The building was acquired at the end of 2007 for a total consideration of EUR 10.7 m as part of a sale-and-leaseback transaction with a German corporation. The asset, which is 98% let, generates a total annual rent of EUR 913 k and has an average lease length of 4.5 years.

'Capital recycling discipline is key to our business', said Olivier Elamine, CEO of alstria. 'With this sale, we are very opportunistically making good use of the strong demand for products with a residential potential, and unlocking capital that can be reinvested rapidly in our refurbishment pipeline'

The transaction was brokered by Grossman & Berger.

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. As of December 31, 2012 the portfolio comprised 84 properties with an aggregate lettable space of 929,000 sqm and is valued at approximately EUR 1.6 bn. The alstria office REIT-AG 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.

Contact:
Ralf Dibbern, IR/PR
Phone: +49 (0) 40 226 341 329
Email: rdibbern@alstria.de

More information on:
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 the field 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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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@alstria.de
Internet:	http://www.alstria.de
ISIN:	DE000A0LD2U1
WKN:	A0LD2U
Indices:	SDAX, EPRA, German REIT Index
Listed:	Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Hamburg, München, Stuttgart

End of News DGAP News-Service

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