publity successfully completes purchase of the Centurion office tower in Frankfurt/Main
Frankfurt am Main, 23 April 2020 – publity AG (Scale, ISIN DE0006972508) announces that the closing of the purchase of the Centurion office tower in Frankfurt/Main has now been completed. The transaction, which was notarised in December 2019, has thus been fully executed and the property is now included in the balance sheet of the publity subsidiary PREOS Real Estate AG. The property with a total rental space of more than 28,000 square meters is located in Frankfurt City-West and is 95 percent leased. The property accommodates the German headquarters of an international financial group and other well-known institutional tenants. The approx. 75 m high office tower was completed in the 1990s and extensively refurbished in 2008. The acquisition included a debt tranche of around EUR 75 million, which was provided by a German bank as financing partner. The acquisition is part of the dynamic expansion of the publity group’s own real estate portfolio.
Thomas Olek, CEO of publity: “We are currently not feeling any effects of the current market environment on our growth course and access to financing. I am convinced that with prime properties in prime locations in prime cities we have the right investment focus for every market phase. The Centurion in Frankfurt fits perfectly into our purchasing profile. Additionally, we have a recent property pipeline in the mid three-digit million euro range, for which we are currently in the process of specific, exclusive acquisition review”.
Press Contact:
Financial Press and Investor Relations:
edicto GmbH
Axel Mühlhaus/ Peggy Kropmanns
Phone: +49 69 905505-52
Mail: publity@edicto.de
About publity
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 successfully completes purchase of the Centurion office tower in Frankfurt Main