Frankfurt 23/12/2019 — publity AG (Scale, ISIN DE0006972508), an investor and asset manager focusing on office properties in Germany, is expanding its own real estate portfolio bundled in its subsidiary PREOS Real Estate AG. The purchase agreement for the takeover of the office tower Centurion in Frankfurt am Main has now been notarised. The transaction will be closed in the first quarter of 2020. It was agreed not to disclose details of the purchase price and the seller.
The property in a very good location in Frankfurt’s City-West has a total rental space of more than 28,000 square meters and is 95 percent leased. The weighted average lease term (WALT) totals 4.2 years. Im Objekt befinden sich die Deutschlandzentrale des internationalen Finanzkonzerns sowie weitere namhafte institutionelle Mieter aus der Finanzindustrie.
It is an approx. 75 m high office tower with underground parking, completed in the nineties and comprehensively revitalized in 2008.
Thomas Olek, CEO of publity: «Once again, we have succeeded in expanding our portfolio with a state-of-the-art office property in a good location in Frankfurt am Main with renowned tenants with strong credit ratings — and at excellent conditions. We are thus underpinning our excellent access to attractive properties and successfully continuing our growth course».
publity was advised on the purchase of the property by the law firm Simmons & Simmons.
Financial Press and Investor Relations:
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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 expands own portfolio in Frankfurt am Main