DGAP-News: Prime Office REIT-AG / Key word(s): Real Estate/Disposal
Prime Office REIT-AG sells office building in Stuttgart-Fellbach
20.01.2014 / 07:30
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THE INFORMATION CONTAINED HEREIN IS NOT FOR DIRECTLY OR INDIRECTLY
PUBLICATION IN THE UNITED STATES OF AMERICA, CANADA, JAPAN OR AUSTRALIA.
Prime Office REIT-AG sells office building in Stuttgart-Fellbach
- Office building in Philipp-Reis-Strasse 2 in Stuttgart-Fellbach sold for
EUR 34.0 million
- Sale strengthens the equity ratio and decreases the leverage ('LTV') of
Prime Office REIT-AG prior to the planned merger into OCM German Real
Estate Holding AG (the future 'Prime Office AG')
Munich, 20. January 2014. Prime Office REIT-AG ('Prime Office') sold an
office building in Philipp-Reis-Strasse 2 in Stuttgart-Fellbach for EUR
34.0 million.
The purchase contract was notarised on 17 January 2014. The sale enables
the property company to further strengthen its equity ratio prior to the
planned merger of Prime Office into OCM German Real Estate Holding AG (the
future 'Prime Office AG') and to sustainably decrease its LTV.
'We are pleased that we could once more strengthen our equity base by
selling the property in Stuttgart-Fellbach prior to the upcoming merger and
to decrease our leverage further' says Alexander von Cramm, member of the
executive board of Prime Office.
The modern office building is situated centrally in the office park in
Stuttgart-Fellbach and has a rentable space of 19,854 square metres. The
property is let long-term until 31 December 2020 to the Regional Authority
for Compensation and Retirement of the State of Baden-Wuerttemberg.
â
Contacts
Prime Office REIT-AG
Richard Berg
Director Investor Relations / Corporate Communications
HopfenstraÃe 4
80335 Munich
Telephone +49. 89. 710 40 90 40
Facsimile +49. 89. 710 40 90 99
Email richard.berg@prime-office.de
Disclaimer
This document constitutes neither an offer to sell nor a solicitation to
buy or subscribe for securities. Any such offer will be made solely on the
basis of the securities prospectus yet to be approved by the German
Financial Supervisory Authority (BaFin) and published thereafter. The
information legally required to be provided to investors will be contained
only in the securities prospectus.
The information contained herein is not for distribution, directly or
indirectly, in or into the United States of America (including its
territories and possessions of any State of the United States of America or
the District of Columbia) and must not be distributed to 'U.S. persons' (as
defined in Regulation S under the U.S. Securities Act of 1933, as amended
('Securities Act')) or publications with a general circulation in the
United States of America. This document is not an offer of securities for
sale in the United States of America. The securities have not been and will
not be registered under the Securities Act and may not be offered or sold
absent registration or an exemption from registration under the Securities
Act. The Issuer does not intend to register any portion of the offering in
the United States of America or to conduct a public offering of the
securities in the United States of America.
This document is not an offer of securities for sale in the United States
of America, Canada, Japan or Australia.
End of Corporate News
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20.01.2014 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
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Language: English
Company: Prime Office REIT-AG
HopfenstraÃe 4
80335 München
Germany
Phone: +49 (0)89 7104090 40
Fax: +49 (0)89 7104090 99
E-mail: richard.berg@prime-office.ag
Internet: www.prime-office.ag
ISIN: DE000PRME012
WKN: PRME01
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), München,
Stuttgart; Freiverkehr in Berlin, Düsseldorf
End of News DGAP News-Service
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248567 20.01.2014
DGAP-News: Prime Office REIT-AG sells office building in Stuttgart-Fellbach
| Source: EQS Group AG