Frankfurt 24/09/2019 – publity AG (Scale, ISIN DE0006972508), an investor and asset manager focused on office real estate in Germany, is successfully expanding its own real estate portfolio with the purchase of an office building in Eschborn near Frankfurt/Main. The property, which was built in 2001 and modernised in 2019, offers 17,247 square metres of rentable space and 268 parking spaces and is fully let. The weighted average lease term (WALT) for the property totals around 4.5 years. The main tenants include Cisco Systems GmbH, Continental Teves AG & Co and the Fast Lane Institute. The annual net cold rent is currently around EUR 2.6 million. The parties have agreed to maintain confidentiality about the purchase price of the multi-tenant office property.
The property is located in the office city of Eschborn in the immediate vicinity of Frankfurt/Main and is characterised by an excellent location and a very good transport infrastructure. Frankfurt Airport and the city centre of the Main metropolis can be reached within a few minutes thanks to a well-developed motorway network and local public transport. Furthermore, Eschborn, with its proximity to numerous surrounding recreation areas, offers a high quality of life. In recent years, Eschborn has become a sought-after office location on Frankfurt’s city limits, home to numerous national and international companies such as Vodafone, EY, Deutsche Bahn, SAP and Deutsche Börse. In Eschborn, publity has already been successfully active as an asset manager: in 2017, the approximately 41,000 square metre “LG Tower” was profitably sold for a client after the occupancy rate had been significantly improved and the property had thus been value-enhanced.
“With this purchase, we demonstrate that publity is still able to gain access to attractive properties in very good locations at favourable purchase prices, even in the current market environment. This purchase will enable us to further expand our portfolio and continue our growth course,” says Thomas Olek, CEO of publity. “We are convinced that Eschborn’s economic importance will continue to increase in the future due to its sustainable tax policy – local companies benefit from one of the lowest trade tax rates in the entire Rhine-Main region.“
publity was advised on the purchase by Simmons & Simmons LLP (legal). albrings + müller has provided the technical advice.
Finanzpresse und Investor Relations:
Axel Mühlhaus/ Peggy Kropmanns
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 continues expansion of its own real estate portfolio and buys office property in Eschborn near FrankfurtMain