Frankfurt/Main, 02/07/2020 – publity AG (Scale, ISIN DE0006972508) has successfully sold an approximately 5,000 square meter office property in the Munich metropolitan area in its function as asset manager. The buyer is a real estate company from Berlin; it was agreed not to disclose the purchase price.
publity acquired the property in Sauerlach which is located south of Munich in March 2018 and has since improved the tenant structure and extended tenancy agreements. The weighted average lease term (WALT) of the almost fully let property totals 4.6 years.
Frank Schneider, COO of publity, comments: “The successful sale of a further property confirms our strong network and that we are operating in a market where demand remains high, with a focus on German office properties”.
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 sells property near Munich as asset manager