Corporate | 24 June 2015 08:00

alstria office REIT-AG: Disposal of two assets in Munich

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

2015-06-24 / 08:00

Press release

Disposal of two assets in Munich

– alstria reduces exposure in Munich in line with stated strategic targets

– Gain to recent FY14 IFRS fair value of 6.4%

Hamburg, June 24, 2015 – alstria office REIT-AG (symbol: AOX, ISIN: DE000A0LD2U1), the leading German office REIT, announces the sale of two assets in Munich.

The assets located in Landshuter Allee 174 and Arnulfstrasse 150 comprise a total lettable area of 13,100 sqm and were sold for a total consideration of EUR 30.5 m, representing a gain to the most recent valuation of 6.4%. Both buildings are sold vacant to be repositioned as hotel and as residential buildings, respectively. The two buildings where acquired in 2007 and 2006 for a total consideration of EUR 26.0 m.

The combined annual rent of both buildings amounts to 1.2 m with a combined WAULT of 0.25 years. Therefore the disposal will have only a minor effect on alstria’s revenues going forward.

‘With the disposal of two of our three assets in Munich we consistently pursue our strategy to benefit from the high demand for good assets and exit markets where we have a subcritical investment volume’, said Olivier Elamine, CEO of alstria. ‘Although our main focus is and will remain offices, we always seek for the best use for our assets. For the current assets, the repositioning into hotel and residential buildings allowed us to generate the best return possible, reflected by the premium to year end valuation’.

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 March 31, 2015 the portfolio comprised 74 properties with an aggregate lettable space of 873,300 sqm and is valued at approximately EUR 1.7 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:
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.

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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:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Hamburg, Munich, Stuttgart

End of News DGAP News-Service

371195  2015-06-24