DGAP-News: TLG IMMOBILIEN AG / Key word(s): Contract/Real Estate
TLG IMMOBILIEN AG acquires two adjoining neighbourhood shopping centres in
Dresden
30.09.2016 / 07:00
The issuer is solely responsible for the content of this announcement.
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Press release
TLG IMMOBILIEN AG acquires two adjoining neighbourhood shopping centres
in Dresden
- 'Sachsen Forum' and 'Fachmarktzentrum Merianplatz' acquired
- Total net purchase price EUR 22.8 m
- Rental agreements for both properties generate around EUR 1.7 m per
annum
- Total occupancy rate: 99%
- Anchor tenants: Konsum Dresden, Rossmann, Penny and Sparkasse
- Well-established and highly frequented convenience shopping locations
Berlin, 30 September 2016 - TLG IMMOBILIEN AG has acquired the well-
established local neighbourhood shopping centre 'Sachsen Forum' as well as
the neighbouring 'Fachmarktzentrum Merianplatz' in Dresden for a total net
purchase price of EUR 22.8 m. Factoring in the ancillary costs of the
acquisition, a total of around EUR 24.3 m is being invested in the
transactions. Both properties are situated in the district of Gorbitz in
western Dresden, in the heart of one of the largest residential areas in
the Saxon state capital. They are highly frequented by passers-by as around
20,000 people live in the district. They enjoy excellent public transport
connections and have an ample number of parking spaces.
'Sachsen Forum' has a lettable area of around 11,700 sqm. Built in 1996 and
partially revitalised in 2016, the property generates around EUR 1.4 m per
annum from rental agreements. The weighted average lease term (WALT) is 3.4
years. The EPRA Vacancy Rate of the property is approx. 1%. Anchor tenants
include the well-established local food retailer Konsum Dresden, the health
and beauty chain Rossmann and the discounter Penny. In addition to its
retail space, some of the space in the property is being used for offices
and medical practices. The property was sold by TAM
Grundstücksverwaltungsgesellschaft mbH & Co. Objekt Dresden-Gorbitz KG and
the transaction was brokered by Tust Immobilien.
The directly neighbouring 'Fachmarktzentrum Merianplatz' has a lettable
area of around 3,000 sqm and is also in good structural condition. It
generates around EUR 300,000 from rental agreements per annum. The property
has a WALT of 3.8 years and an occupancy rate of 97%. In Ostsächsische
Sparkasse Dresden, KIK and Ernsting's Family, this centre also has well-
known chains as tenants. The transaction was brokered by Cushman &
Wakefield.
'Dresden is one of the prospering and fast-growing cities in
eastern Germany. The steady influx of people and its positive economic
performance make Dresden a popular place in which to invest, even in terms
of convenience stores, which is why we are happy to add this highly
promising micro-location to our retail portfolio', says Niclas Karoff,
member of the Management Board of TLG IMMOBILIEN AG.
Contact
<pre>
Christoph Wilhelm Sven Annutsch
Corporate Communications Investor Relations
Phone: +49 30 2470 6355 Phone: +49 30 2470 6089
E-Mail: christoph.wilhelm@tlg.de E-Mail: sven.annutsch@tlg.de
</pre>
About TLG IMMOBILIEN AG
TLG IMMOBILIEN AG is a stock exchange-listed leading commercial real estate
company focusing on Berlin and growth regions in Eastern Germany. For 25
years, TLG IMMOBILIEN AG is synonymous with real estate expertise in
Germany's East. TLG IMMOBILIEN AG generates stable rental income and
exhibits low vacancy rates, very good building stock and profits from its
local employees' excellent market knowledge. As an active portfolio
manager, TLG IMMOBILIEN AG is specialised in commercial properties for
office and retail use. TLG IMMOBILIEN AG focuses on managing a high-quality
portfolio of office properties in Berlin and other regional economic
centres, as well as a regionally diversified portfolio of retail properties
in highly frequented micro locations. The portfolio also includes seven
hotels in Berlin, Dresden and Rostock. TLG IMMOBILIEN AG's properties stand
out not only due to their excellent locations but also because of their
very long-term rental or lease agreements.
As at 30 June 2016, the value of the properties under IFRS totalled EUR
1,983 bn. As at the same reporting date, the EPRA Net Asset Value per share
amounted to EUR 17.33.
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30.09.2016 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.
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Language: English
Company: TLG IMMOBILIEN AG
Hausvogteiplatz 12
10117 Berlin
Germany
Phone: 030 - 2470 - 50
Fax: 030 - 2470 - 7337
E-mail: kontakt@tlg.de
Internet: www.tlg.de
ISIN: DE000A12B8Z4
WKN: A12B8Z
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Stuttgart, Tradegate Exchange
End of News DGAP News Service
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507429 30.09.2016
DGAP-News: TLG IMMOBILIEN AG acquires two adjoining neighbourhood shopping centres in Dresden
| Source: EQS Group AG