Frankfurt 31/10/2019 — publity AG (Scale, ISIN DE0006972508), an investor and asset manager focused on office properties in Germany, has achieved a letting success with the Quattrium office property in Ratingen near Düsseldorf. An extension of the tenancy agreement with Parametric Technology GmbH for an area of 1,227 square metres for a further five years, until September 2024, has now been fixed. The weighted average lease term (WALT) for the entire property thus rises from 2.90 years to 3.22 years.
publity had acquired the quattrium in Ratingen with a total rental space of almost 28,000 square metres as part of an asset management contract in 2016. The five-storey office building was built in 1993 and has around 600 underground parking spaces.
Frank Schneider, COO of the publity AG: «We are pleased that we were able to achieve a long-term lease extension with an existing tenant. This underlines the quality of the property in Ratingen, which has many positive factors with its multi-tenant structure, flexible interior design and good location. The location is attractive due to the proximity to Düsseldorf and the very good traffic connections.”
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 with letting success for Quattrium office property in Ratingen