- Funding framework used for purchase of Westend Carree in Frankfurt am Main
- Meritz expands invested capital at publity to 141 million euros
- Further joint projects planned
Frankfurt 31/01/2020 – publity AG (Scale, ISIN DE0006972508), an investor and asset manager focused on office properties in Germany, has received a further 56 million euros from its financing partner Meritz Financial Group (“Meritz”). Thus, the capital previously invested within the framework of the existing cooperation between Meritz has now been expanded to a total of 141 million euros.
The financing tranche now made available is to be used for the purchase of Westend Carree in Frankfurt am Main. The purchase agreement for the transfer of the 30,550 square meter office property to publity’s own real estate portfolio, which is bundled in the subsidiary PREOS Real Estate AG, has already been notarized (see Corporate News of January 14, 2020). The closing of the transaction is expected by February 2020.
The first joint transaction with Meritz was the purchase of the St. Martin Tower office building in Frankfurt am Main. publity had successfully sold the almost fully let office complex with a lettable area of around 26,000 square metres in 2019 and a financing of Meritz of EUR 25 million had already been fully repaid.
Thomas Olek, CEO of publity: “The payment of a further 56 million euros underscores how valuable the partnership with Meritz is and that the cooperation works excellently. We plan to acquire further properties in 2020 with the support of this financing partner and are already in negotiations to this end”.
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 receives further capital tranche of 56 million Euro from financing partners Meritz and IGIS