DGAP-News: alstria office REIT-AG / Key word(s): Miscellaneous
alstria office REIT-AG: Successful financing of DIVE portfolio
03.09.2012 / 17:35
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Press release
Successful financing of DIVE portfolio
- alstria agreed on a new loan of EUR 42.5 m and increases its financial
flexibility
- LTV of 47% and 7 year term of the new loan further improve balance sheet
quality
Hamburg, September 3, 2012 - alstria office REIT-AG (symbol: AOX, ISIN:
DE000A0LD2U1), the leading German office REIT, announces the financing of
its DIVE portfolio. The loan is provided by Helaba Landesbank
Hessen-Thüringen.
Cash inflow provides financial flexibility
Following the acquisition of six buildings worth EUR 95 m (DIVE portfolio)
in early 2012, alstria successfully closed the financing of the
transaction. The bullet loan has a term of 7 years, thus improving
alstria's average maturity of liabilities from 3.2 to 3.4 years. alstria's
intention is to draw down on the loan after it has identified an adequate
use of the proceeds.
LTV of 47% further improves balance sheet ratios
In line with its long-term deleveraging strategy alstria further improved
its financial structure. The LTV of the new loan amounts to 47% (LTV
covenant of 65%) and therefore supports alstria's target to lower its
corporate LTV to around 50% in the mid-term.
'The new loan is again testimony to the strength of our balance sheet and
the trust of the lenders in alstria's asset management capability, as the
maturity of the loan exceeds the remaining lease length of the portfolio',
said Olivier Elamine, CEO of alstria. 'Our recent positive trend in leasing
up the vacant space in the portfolio is clearly supportive in this
respect'.
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, 2012 alstria's
portfolio comprised 85 properties with an aggregate lettable space of
approx. 930,000 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.
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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03.09.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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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: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Hamburg, München, Stuttgart
End of News DGAP News-Service
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184031 03.09.2012
DGAP-News: alstria office REIT-AG: Successful financing of DIVE portfolio
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