DGAP-News: PREOS Real Estate AG further expands portfolio and announces closing of the Centurion transaction

PREOS Real Estate AG further expands portfolio and announces closing of the Centurion transaction

Leipzig, 23 April 2020 - PREOS Real Estate AG ("PREOS", ISIN DE000A2LQ850) has successfully completed the acquisition of the Centurion office tower in Frankfurt/Main. The transaction was notarised in December 2019. The acquisition is part of the dynamic expansion of the PREOS portfolio. The property has a total lettable area of more than 28,000 square metres and is located in a prominent position in Frankfurt's City-West. The property is 95 percent leased, and is home to the German headquarters of a renowned international financial group and other well-known institutional tenants. The approx. 75 m high office tower was completed in the 1990s and extensively refurbished in 2008.

Frederik Mehlitz, CEO of PREOS Real Estate AG: "Now that benefits and encumbrances have been transferred to PREOS, we are fully benefiting from the rental income generated by the Centurion and from the property's upside potential. We have a well-filled pipeline of outstanding office properties and intend to continue to expand our portfolio significantly in the current year. We possess a very good financing basis and excellent access to properties."

About PREOS Real Estate AG

PREOS Real Estate AG ("PREOS") is an active real estate investor focused on office properties. PREOS acts as an efficient management holding company. The acquisition focuses on office properties with development potential in German metropolitan regions. Value creation is generated by targeted asset management measures. Developed portfolio properties are sold in the event of adequate sales opportunities. The corporate strategy is to significantly expand the real estate portfolio through acquisitions in the coming years. The PREOS share (ISIN DE000A2LQ850) is listed in the over-the-counter segment m:access of the Munich Stock Exchange (PAG.MU) and on Xetra (PAG.DE). The company headquarters of PREOS is located in Leipzig.

Investor & Public Relations
edicto GmbH
Axel Mühlhaus
Eschersheimer Landstraße 42
60322 Frankfurt am Main
Phone +49(0) 69/905505- 52
Mail: preos@edicto.de