Frankfurt, 03.03.2021- publity AG (Scale, ISIN DE0006972508, «publity») has successfully sold an office property in Bad Homburg in its position as asset manager. The parties have agreed not to disclose the purchase price or the buyer. The office building provides a total lettable area of just under 5,200 square metres and is situated in a centrally located commercial area of Bad Homburg, just outside Frankfurt/Main. In the immediate vicinity of the property are, among other things, the renowned educational institution accadis Bildung with its range of courses from kindergarten to university degrees, as well as the A 5 motorway connection.
publity acquired the property in 2017 and has since successfully developed it; the main tenants include Deutsche Bahn and a major air conditioning manufacturer. The office property is in the asset portfolio of GORE German Office Real Estate AG (ISIN DE000A0Z26C8), an indirect subsidiary of publity AG.
Frank Schneider, Executive Board member of publity: «With the successful sale of the commercial property in Bad Homburg, we were once again able to prove that we cover the entire value chain in real estate development. The property is particularly appealing due to its excellent location. For instance, not only the major city of Frankfurt/Main is close to the property. Bad Homburg itself also counts as a highly attractive location in the Rhine-Main region.»
Financial Press and Investor Relations:
Axel Mühlhaus/ Svenja Liebig
Phone: +49 69 905505-56
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 AG — Commercial property sold in Bad Homburg with Deutsche Bahn as main tenant