DGAP-News: DEMIRE Deutsche Mittelstand Real Estate AG / Key word(s): Real
Estate/Miscellaneous
DEMIRE Deutsche Mittelstand Real Estate AG: DEMIRE successfully concludes
new lease agreements for former Deutsche Telekom space in Bad Kreuznach
26.07.2016 / 07:30
The issuer is solely responsible for the content of this announcement.
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DEMIRE successfully concludes new lease agreements for former Deutsche
Telekom space in Bad Kreuznach
Frankfurt/Main, July 26, 2016 - DEMIRE Deutsche Mittelstand Real Estate AG
has successfully repositioned an office property in Bad Kreuznach by
leasing it to the city's administration. The property had been previously
leased, in its entirety, by Deutsche Telekom.
The commercial property located in the city centre of Bad Kreuznach
consists of roughly 7,800 square metres of lettable space and had a vacancy
rate of approx. 47 % at the time DEMIRE purchased it as part of a portfolio
transaction in early 2015.
New lease agreements with Bad Kreuznach's city administration concluded in
the fourth quarter of 2015 had already more than halved the property's
vacancy rate. Additional leases concluded in the current fiscal year, some
of which will not take effect until the turn of the year 2016/2017, will
reduce the vacancy rate by more than 80 %. At the same time, contractual
annual leases have increased by 77% and will amount to roughly EURk 430
starting in 2017.
Markus Drews, a DEMIRE Executive Board member responsible for the operating
business commented: "The Bad Kreuznach property's excellent location and
floor plan are ideal for the city administration's needs. Several agencies
such as the registration office, administrative authority and family
registry office are now located at the property".
The Executive Board
Contact information
DEMIRE Deutsche Mittelstand Real Estate AG
Lyoner Straße 32
60528 Frankfurt am Main
Phone: +49 (0) 69-719 189 79 0
Fax: +49 (0) 69-719 189 79 11
Email: ir@demire.ag
Website: www.demire.ag
Investor Relations
GFEI Aktiengesellschaft
Lars Kuhnke
Phone: +49 (0) 511 47 40 23 10
Email: ir@demire.ag
About DEMIRE - First in secondary locations
DEMIRE Deutsche Mittelstand Real Estate AG has commercial real estate
holdings in mid-sized cities and up and coming areas bordering German
metropolitan areas. As at March 31, 2016, DEMIRE held real estate
consisting of 180 properties with a market value of EUR 971 million. As at
the reporting date, contractual rents had been firmly agreed upon in the
amount of EUR 74.2 million (at an occupancy rate of 87.0 %) for a term of
5.5 years.
DEMIRE aims to maintain its corporate organisation as lean as possible,
although it still believes that economies of scale and portfolio
optimisation are best achieved by having its own in-house asset, property
and facility management. This safeguards the Company's business expertise
and, equally important, allows the Company to maintain direct contact with
the customer.
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26.07.2016 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.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: DEMIRE Deutsche Mittelstand Real Estate AG
Lyoner Straße 32
60528 Frankfurt am Main
Germany
Phone: +49 (0)69 / 719 189 79 0
Fax: +49 (0)69 / 719 189 79 11
E-mail: ir@demire.ag
Internet: www.demire.ag
ISIN: DE000A0XFSF0
WKN: A0XFSF
Listed: Regulated Market in Berlin, Frankfurt (Prime Standard);
Regulated Unofficial Market in Dusseldorf, Stuttgart,
Tradegate Exchange
End of News DGAP News Service
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485771 26.07.2016
DGAP-News: DEMIRE Deutsche Mittelstand Real Estate AG: DEMIRE successfully concludes new lease agreements for former Deutsche Telekom space in Bad Kreuznach
| Source: EQS Group AG