Frankfurt 22/05/2020 – publity AG (Scale, ISIN DE0006972508), an investor and asset manager focusing on office real estate in Germany, has successfully sold an office property in the Airport City of Dortmund Airport which it administers as asset manager. The corresponding sales agreement has now been notarised and the transaction is expected to close by the end of 2020.
With the profitable sale, publity realises the increases in value of the property achieved through asset management. During the four-year holding period, publity was able, among other things, to extend important tenancy agreements and significantly increase the occupancy rate. Negotiations are also currently taking place on the long-term extension of a tenancy agreement.
Built in 1999 and acquired by publity in 2016, the property is almost fully let and has a total rental area of almost 6,700 square metres. The main tenant in the property is Gastro-Hero, a retailer of catering technology. Brockhoff & Partner Immobilien acted as intermediary in the transaction.
Frank Schneider, COO of the publity AG: „We are pleased about the successful sale of the multi-tenant office property at Dortmund Airport. The property impresses with its very good connections to long-distance and regional transportation and its favourable location in relation to Dortmund Airport. Thanks to our efficient asset management, we have succeeded in optimising the property and leveraging potential. The profitable sale of the property speaks for the good choice of location and the quality of the property”.
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 records sales success for office property at Dortmund Airport