Frankfurt 26.09.2019 – publity AG (Scale, ISIN DE0006972508) has received additional funding from its financing partner, Meritz Financial Group (“Meritz”) and its Asset Manager IGIS Asset Management (“IGIS”), under the existing cooperation. The cooperation, announced in April 2019, allows the partners to seek additional investments opportunities in Germany – 85 million euros have so far been invested.
The first joint transaction was the purchase of the St. Martin Tower office building in Frankfurt am Main with a rental area of around 26,000 square meters. The property was acquired by the 100% publity subsidiary, publity Investor GmbH, for its own real estate portfolio in 2019. Negotiations for further joint projects are already well advanced.
Meritz Financial Group has so far provided publity AG with debt capital structures for the purchase of German office properties. In addition to such debt capital structures, the companies also intend to explore the use of equity-related structures for future projects – currently, the aggregate value of the pipeline for these projects is approximately 750 million euros.
Thomas Olek, CEO of publity AG: “The funding of now a total of EUR 85 million euros once again underlies the potential of this close cooperation with the renowned and financially strong partner and the excellent prospect for the further rapid expansion of our real estate portfolio. Further projects to be financed together with Meritz are expected to follow in 2019”.
Financial Press and Investor Relations:
Axel Mühlhaus/ Peggy Kropmanns
Telephone: +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 through to the sale of real estate. With more than 1,100 transactions during the past seven years, publity is one of the most active players on the property market. At present the company manages a portfolio with a value of more than EUR 5 billion. publity is characterised by a strong network in the real estate sector as well as at the work out departments of financial institutions. With an excellent access to funds for capital investments, publity conducts transactions quickly with a highly efficient process and with proven partners. On a case-by-case basis publity participates as a co-investor in joint venture transactions and acquires real estate for its own portfolio. The shares of publity AG (ISIN DE0006972508) are traded in the Scale segment of the German Stock Exchange.
publity receives financing capital of EUR 85 million from its financing partner Meritz Financial Group and its Asset Manager IGIS Asset Management Co. Ltd