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alstria leases 2,100 sqm in Hamburg Norderstedt
- Long-term lease signed with the German subsidiary of a major international industrial corporation
- Rental income on the property increased by almost 40%
alstria office REIT-AG (symbol: AOX, ISIN: DE000A0LD2U1), the leading German office REIT, announces the signing of a lease agreement with the German subsidiary of a major industrial international corporation in Hamburg Norderstedt.
The asset which has been recently acquired by alstria in May 2012 as part of the "Dive" transaction has had a total vacancy rate at acquisition of 40%. The signing of this new lease allows the vacancy rate on this asset to be cut down to 21%, and increase the total annual rental income by almost 40% from EUR 590 k to EUR 827 k per annum.
The lease transaction was brokered by BNP Paribas Real Estate GmbH (Hamburg). The new lease is set to start in December 2012.
"This leasing result reflects the ability of alstria's real estate operation to deliver on our strategy" says Olivier Elamine, CEO of alstria. "Our leasing activity is running according to our plans, and sometimes, as in this case, even faster than we have expected. The strong letting demand in the market is still extremely supportive."
This release constitutes neither an offer to sell nor a solicitation of an offer to buy any shares. As far as this press release contains forward-looking statements with respect to the business, financial condition and results of operations of alstria office REIT-AG (alstria), these statements are based on current expectations or beliefs of alstria's management. These forwardlooking statements are subject to a number of risks and uncertainties that could cause actual results or performance of the Company to differ materially from those reflected in such forward-looking statements. Apart from other factors not mentioned here, differences could occur as a result of changes in the overall economic situation and the competitive environment - especially in the core business segments and markets of alstria. Also, the development of the financial markets and changes in national as well as international provisions particularly in the field of tax legislation and financial reporting standards could have an effect. Terrorist attacks and their consequences could increase the likelihood and the extent of differences. alstria undertakes no obligation to publicly release any revisions or updates to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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