DGAP-News: alstria office REIT-AG: alstria adds two new leases comprising 4,400 sqm in Hamburg and Stuttgart
DGAP-News: alstria office REIT-AG
/ Key word(s): Miscellaneous
Press Release alstria adds two new leases comprising 4,400 sqm in Hamburg and Stuttgart alstria has signed a new lease for its development asset in Amsinckstr. 28 (Hamburg). The new tenant will lease up approximately 2,700 square meters of office and ancillary space for a lease-term of 10 years and generates an annual rental income of EUR 529,200. With this new lease, the building is 80% let. Compared to the situation prior to the refurbishment, alstria managed to increase the rent per square meter by around 60% from EUR 9.70 to EUR 15.20. The refurbishment project involves an investment of around EUR 1,100 per square meter generating an incremental yield on capex of approximately 6.0%. In Stuttgart alstria has signed a new lease for its asset in Epplestr. 225 comprising 1,700 square meters of office and ancillary space. The 5-year lease will start in the second half of 2020 and generates an annual rental income of EUR 370,000. With this new lease alstria re-let around 90% of the 13,000 square meters that have been vacated by Daimler AG in December 2018. The leasing contract in Hamburg was brokered by Cushman & Wakefield LLP, the lease in Stuttgart was brokered by Immobilien Schmidt GmbH. Contact IR/PR:
Disclaimer:
21.10.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | alstria office REIT-AG |
Steinstraße 7 | |
20095 Hamburg | |
Germany | |
Phone: | 040-226 341 300 |
Fax: | 040-226 341 310 |
E-mail: | [email protected] |
Internet: | http://www.alstria.de |
ISIN: | DE000A0LD2U1 |
WKN: | A0LD2U |
Indices: | MDAX, EPRA, German REIT Index |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; London, Luxembourg Stock Exchange, SIX, Vienna Stock Exchange |
EQS News ID: | 893563 |
End of News | DGAP News Service |
|
893563 21.10.2019
alstria office REIT-AG Stock
With 0 Sell predictions and 1 Buy predictions the community sentiment towards the alstria office REIT-AG stock is not clear.
Based on the current price of 3.67 € the target price of 100 € shows a potential of 2624.8% for alstria office REIT-AG which would more than double the current price.