Frankfurt 29/10/2019 — publity AG (Scale, ISIN DE0006972508), an investor and asset manager focused on office properties in Germany, has achieved a further tenancy success with an office property in Ratingen. The technology group thyssenkrupp was acquired as a new tenant for an area of around 1,400 square meters. The lease has a term of 5 years, until the end of September 2024. As a result, the weighted average lease term of the rental agreements in the property (WALT) increased from 3.84 to 3.91 years and the occupancy rate rose from 75 percent to 83 percent.
The approximately 16,600 square metre office property purchased by publity for the asset management portfolio in February 2019 is located in the Ratingen industrial estate in the immediate vicinity of the major cities of Düsseldorf and Essen.
Frank Schneider, COO of publity AG: «Thanks to our successful asset management, we have once again succeeded in concluding a new tenancy agreement with a renowned company. Our property in Ratingen is located in a very attractive location not far from major metropolises and we are very confident that we will be able to quickly increase the occupancy rate even further.”
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 achieves further tenancy success in office property in Ratingen