Corporate | 7 September 2015 17:40

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

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

2015-09-07 / 17:40

Press release

Disposal of two assets in Ditzingen

– alstria takes profit in Ditzingen after successful asset management activities

– Gain of EUR 2.3 m compared to IFRS fair value as of December 31, 2014

Hamburg, September 7, 2015 – alstria office REIT-AG (symbol: AOX, ISIN: DE000A0LD2U1), the leading German office REIT, announces the sale of two assets in Ditzingen.

The disposed property, an office building and a DIY market, is located in Siemensstrasse 31-33 in Ditzingen. alstria acquired the asset in 2007 and is currently developing a new DIY market on excess land that was available on the plot. The office property represents 14,600 sqm of lettable area, generates an annual rent of EUR 1.5 m and was sold to an institutional fund. The newly constructed 9,400 sqm DIY market is leased up to hagebaumarkt for 20 years, will generate an annual rent of EUR 0.9 m and was sold to HAMBORNER REIT AG. The total consideration for the sale of the two assets is EUR 31.9 m, which represents a premium of around 8% to the IFRS fair value as of December 31, 2014. The office transaction was brokered by JLL, Stuttgart.

‘We are constantly in the process of optimising the value of our assets’, said Olivier Elamine, CEO of alstria. ‘This sale is a good illustration of our ability to streamline the portfolio, while extracting substantial value out of the assets’.

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 June 30, 2015 the portfolio comprised 74 properties with an aggregate lettable space of 873,000 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.

2015-09-07 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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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

392935  2015-09-07