- Transaction volume with office properties for GORE up to EUR 400 million planned in 2020
- Focus on properties in German metropolitan regions with a value of up to around EUR 15 million
Frankfurt 18/12/2019 – publity AG (“publity”, Scale, ISIN DE0006972508) occupies another niche as asset manager in the German office real estate market. On behalf of GORE German Office Real Estate AG (“GORE”, ISIN DE000A0Z26C8), publity identifies and acquires office properties in German metropolitan regions – the purchase prices for these properties usually amount to up to EUR 15 million. Subsequently, as asset manager, publity raises the value of the properties and supports GORE in selling the properties if necessary. The plans envision that publity will realise a transaction volume of up to EUR 400 million with the GORE mandate in the course of the coming year.
With this investment focus, publity is opening up a segment of the German office real estate market for GORE that is characterised by below-average competition intensity, as the properties are too small for many institutional and international investors and often too large for private investors. publity has built up an attractive pipeline in this niche for GORE.
GORE German Office Real Estate AG shares are traded on the Munich Stock Exchange in the m:access trading segment since mid-December. The current market capitalisation totals approx. 105 million euros.
Frank Schneider, COO of the publity AG: “We are delighted with the asset management mandate with GORE, which is clearly distinguished from our other asset management mandates in terms of property size and risk/return profile. Damit stellen wir einmal mehr die Expertise, Marktdurchdringung und das Netzwerk von publity für unterschiedliche Investorengruppen unter Beweis. This strength in the German office real estate market is the basis for the significant expansion of assets under management that we are planning for next year”.
publity AG (“publity”) is an asset manager and investor specialised in office real estate in Germany. The company covers the core of the value chain from the acquisition to the development and the sale of real estate. With over 1,100 transactions in the past seven years, publity is one of the most active players in the real estate market. Currently, the company manages a portfolio with a value of over five billion euros. publity is characterized by a sustainable network in the real estate industry and in the Work-Out departments of financial institutions. With very good access to investment funds, publity handles transactions rapidly with a highly efficient process and proven partners. On a case-by-case basis, publity participates as co-investor in joint venture transactions to a limited extent. The shares of publity AG (ISIN DE0006972508) are traded on the Scale segment of Deutsche Börse.
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publity AG is Asset Manager for GORE German Office Real Estate