DGAP-News: publity AG: publity with further leasing success at the Quattrium office property in Ratingen

Press Release

publity with further leasing success at the Quattrium office property in Ratingen

Frankfurt 22/01/2020 - publity AG (Scale, ISIN DE0006972508), an investor and asset manager focusing on office properties in Germany, has achieved a further asset management success with the Quattrium office property in Ratingen near Düsseldorf, which has a floor area of almost 28,000 square metres. An extension of the lease by a good seven years, until the end of March 2028, for an area of just under 2,800 square metres was achieved with 7layers GmbH, an existing tenant specialising in wireless technologies. Thus, the weighted average lease term (WALT) for the entire property was increased from 3.91 years to 5.34 years.

publity acquired the Quattrium in 2016 as part of an asset management agreement and has since been able to significantly increase the occupancy rate from 62 percent at purchase to 83 percent. The five-storey office property was built in 1993. The property also includes around 600 underground parking spaces.

Thomas Olek, CEO of publity: "We are very pleased that we are repeatedly able to conclude contract extensions with existing tenants, including the Quattrium in Ratingen. This reflects our successful asset management and the quality of the property with its multi-tenant structure and flexible interior design as well as its excellent location near Düsseldorf".

Press Contact:

Financial Press and Investor Relations:
edicto GmbH
Axel Mühlhaus/ Peggy Kropmanns
Phone: +49 69 905505-52
Mail: publity@edicto.de

 

About publity

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.