Frankfurt 07/01/2020 – publity AG (Scale, ISIN DE0006972508) has signed a sublease agreement for its former headquarters in Leipzig with the Federal Institute for Federal Real Estate (BImA) for a tenant in the public sector. The agreement stipulates that the authority will first move into one of the two parts of the building with approximately 2,000 square meters in the “publity Center” and, in a second step, occupy all areas with more than 3,000 square meters as tenants.
publity moved its headquarters from Leipzig to the city centre of Frankfurt am Main, to the Opera Tower on Bockenheimer Landstrasse, in December 2018 and has been using the premises in the “publity Center” in Leipzig as its second German location ever since. publity had already sold the property in Leipzig to an international investor in 2015 and concluded a lease agreement with the latter until the end of 2031.
In addition, there is an exceptional termination right for publity of 6 weeks to the end of the month, which can be exercised for the first time on 1 May 2020. Should publity make use of this right, the BImA, which publity has now acquired as a subtenant, will take over the entire space at this point in time. publity intends to continue operating a site in Leipzig and is already examining space that meets the spatial requirements and offers attractive conditions.
Thomas Olek, CEO of publity, comments: “We are delighted that we have found a flexible and efficient solution for the space in the publity Center in Leipzig before the end of our rental agreement. This reflects the relocation of our corporate headquarters to Frankfurt am Main and thus the successive relocation of most divisions. However, we will continue to be represented with a location in Leipzig.”
Financial Press and Investor Relations:
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Phone: +49 69 905505-52
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.
publity concludes sublease agreement with Institute for Federal Real Estate (BImA) for publity Center in Leipzig