Frankfurt/Main, 16.12.2020 — In its capacity as asset manager, publity AG (Scale, ISIN DE0006972508, «publity») successfully sold a commercial property in Waltrop, North Rhine-Westphalia, with a plot size of 25,000 square metres in mid-December. The parties agreed not to disclose the purchase price. The property, acquired by publity around two years ago and successfully managed as an asset manager, is bundled in the existing portfolio of GORE German Office Real Estate AG (ISIN DE000A0Z26C8), an indirect subsidiary of publity.
The average remaining term of the leases is just under 13 years, with a current occupancy rate of 91.1%. The main tenant of the commercial property is the internationally active research institute Nuvisan GmbH, which carries out legally required drug studies on behalf of the pharmaceutical industry. In early November 2020, Nuvisan had extended its tenancy agreement until 2035.
The real estate service provider Brockhoff acted as sales agent in the transaction.
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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. 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 Sale of a commercial property in North Rhine-Westphalia with long-term tenant