Frankfurt 10/10/2019 – publity AG (Scale, ISIN DE0006972508), an investor and asset manager focused on office real estate in Germany, has achieved a letting success for a 4,000 square metre office property in Wilhelmshaven. With the tenant Niedersachsen Ports GmbH & Co. KG, the largest operator for public seaports in Germany, a new rental agreement was concluded for a term of 15 years, until 2034. The original rental agreement was due to expire in 2023. At the same time, Niedersachsen Ports is expanding the leased area in the property from around 288 square metres to 1,173 square metres.
publity thus increases the weighted average lease term (WALT) for the entire property from 10.5 years to 12.2 years. The occupancy rate will be increased from 71 percent to almost 90 percent of leased space.
The modern office property is located at the JadeWeserPort in Wilhelmshaven, the only deepwater port in Germany, and was acquired in July 2017 for the publity Performance Fund No. 8. The main tenants of the 7-storey property are two operating companies of the port, JadeWeserPort-Marketing GmbH & Co. KG and JadeWeserPort Realisierungs GmbH & Co. KG.
Thomas Olek, CEO of publity, explains: “We are very pleased that Niedersachsen Ports, a renowned tenant, has significantly expanded its space in the property and signed a new, long-term tenancy agreement. We have thus further developed the property to increase its value through our successful asset management.”
Financial Press and 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 increases tenancy rate and WALT for office property in Wilhelmshaven significantly