DGAP-News: alstria office REIT-AG / Key word(s): Miscellaneous
alstria office REIT-AG: Successful financing of recent acquisitions
19.12.2011 / 07:25
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Press release
Successful financing of recent acquisitions
- alstria strengthens track record through access to debt financing in a
difficult environment
- Gross cash inflow of EUR 56 million increases financing flexibility
- 7-year term of the new loan improves maturity profile of alstria's
liabilities
Hamburg, December 19, 2011 - alstria office REIT-AG (symbol: AOX, ISIN:
DE000A0LD2U1), the leading German office REIT, announces the financing of
its recent acquisitions.
Targeted financial structure successfully implemented
Taking advantage of its strong market position, alstria invested
approximately EUR 172 million in value-enhancing acquisitions of German
office buildings over the past 12 months. The investments were mainly
financed using the available cash raised through the recent capital
increase. As part of its deleveraging strategy it was alstria's target to
lever the new acquisitions at around 40% LTV. The new loan allows the
company to achieve this target, while providing a gross EUR 56 million of
cash inflow, which will improve the company's financial flexibility.
Improvement of maturity profile
The bullet loan provided by Berlin Hyp und Landesbank Berlin has a term of
7 years, thus improving alstria's average maturity of liabilities from 3.6
to 3.8 years. The new interest rate exposure is fully hedged with a 3%
interest rate cap.
'Our ability to finance a value-add portfolio at a time of severe
restrictions in property lending is not only a testimony to the strength of
our balance sheet, but also to the trust of the lenders in alstria's asset
management capability,' said Olivier Elamine, CEO of alstria. 'This new
inflow of EUR 56 million increases our financing flexibility and allows us
to rapidly respond to opportunities that might arise in the market', added
alstria's CFO Alexander Dexne.
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. Its current portfolio
comprises 79 properties with an aggregate lettable space of approx. 861,000
sqm and is valued at approximately EUR 1.5 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.
For further information, please 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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19.12.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory 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
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Hamburg, München, Stuttgart
End of News DGAP News-Service
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150174 19.12.2011
DGAP-News: alstria office REIT-AG: Successful financing of recent acquisitions
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