Portfolio value increases to approx. EUR 4.4 billion as per December 31, 2019
Full year 2019 revaluation gain of approx. EUR 450 million (EUR 2.53 per share)
Revaluation gain of approx. EUR 250 million (EUR 1.41 per share) in the second half of 2019
Hamburg, January 13, 2020 - The valuation of the real estate portfolio of alstria office REIT-AG ('alstria' , ISIN DE000A0LD2U1) as of December 31, 2019 conducted by the independent appraiser Savills Advisory Services Germany GmbH & Co. KG will lead to a positive effect on alstria's full year 2019 income statement of approximately EUR 450 million (EUR 2.53 per share). Thereof EUR 199 million (EUR 1.12 per share) have already been booked in the first half of 2019.
The value of alstria's real estate portfolio amounted to EUR 4.4 billion as of December 31, 2019.
alstria office REIT AG is the leading real-estate operator focusing solely on German office property in selected German markets. Our strategy is based on the ownership and an active management of our properties throughout their entire life cycle, strong added-value services to our customers and deep knowledge of the markets in which we operate. alstria strives for sustainable long-term value creation while taking advantage of short-term arbitrage of inefficiencies in the real estate markets. As per December 31, 2019 the portfolio comprised 116 buildings with a lettable area of 1.5 million square meters.
Disclaimer: 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 forward-looking 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.
Alstria Office REIT-AG published this content on 13 January 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 January 2020 10:12:01 UTC