Frankfurt 12/12/2019 – publity AG (Scale, ISIN DE0006972508), an investor and asset manager focused on office properties in Germany, has achieved a further tenancy success with the office property Quattrium in Ratingen near Dusseldorf. A renewal of the rental contract with the existing tenant Hitachi Vantara long before the original end of the contract in September 2020 has now been achieved for a further 5 years, until September 2025. The company uses an area of 717 square metres in the property. The weighted average lease term (WALT) for the entire property is 3 years.
The Quattrium in Ratingen has a total rental area of almost 28,000 square metres. publity acquired the five-storey office building in 2016 as part of an asset management agreement. The property, which was built in 1993, also has around 600 underground parking spaces.
Frank Schneider, COO of the publity AG: “We were once again able to extend the lease agreement with an existing tenant and are delighted with this asset management success. The location of the property in Ratingen scores with its good proximity to Dusseldorf, excellent traffic connections and multi-tenant structure with flexible interior design”.
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 with further asset management success at Quattrium in Ratingen