Frankfurt, 20.05.2021— publity AG («publity» Scale, ISIN DE0006972508) has attracted another long-term tenant for the WestendCarree in Frankfurt. The Consulate of the United Mexican States will relocate to the attractive office property in Frankfurt’s West End starting in November 2021. The tenancy agreement for an area of just under 450 square metres including storage covers a period of 10 years. With the new long-term tenant, the occupancy rate in WestendCarree increases to 86.5%.
The property is managed by publity as asset manager and is still in the portfolio of the publity subsidiary PREOS Global Office Real Estate & Technology AG, which announced the signing of the sale of WestendCarrees to the French investment company Ardian at the end of April (see Corporate News, 28 April 2021).
In addition to the rental success in Frankfurt, publity recently achieved two tenancy extensions for an office property in Mollenbachstrasse in Leonberg: The electronics company LG Electronics has extended its tenancy agreement until the end of March 2024; the tenancy of the non-profit Samaritan Foundation will continue until the end of 2025. Both tenants have rented a combined area of just under 1,500 square metres in the multi-tenant property near Stuttgart.
Frank Schneider, CEO, publity AG: «As an established asset manager with excellent market access, we are showing our strengths especially in the challenging environment of the COVID 19 pandemic: We attract new tenants for the long term, as in WestendCarree, and commit existing tenants in the course of extensions, such as in Leonberg. This is a clear sign of how much demand there is for well-equipped office properties in prime locations, despite the growing home office trend.»
Financial Press and Investor Relations:
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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. 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 — Consulate as new long-term tenant in Frankfurt’s WestendCarree and rental successes in Leonberg