DO Deutsche Office AG: Deutsche Office sells building 'An den Treptowers 3' in Berlin

2016-07-08 / 20:08
The issuer is solely responsible for the content of this announcement.

Press release

Deutsche Office sells building 'An den Treptowers 3' in Berlin

Hamburg, July 8, 2016 - DO Deutsche Office AG ('Deutsche Office', symbol: PMOX, ISIN: DE000PRME020), announces that it has signed a binding and notarised agreement on the disposal of 100% of the shares in the company holding the asset 'An den Treptowers 3' in Berlin.

The c. 90,000 sqm asset is located in Berlin's submarket Mediaspree and is currently fully let to Allianz. Allianz has announced to vacate the building at the end of its current lease in mid-2019. The building generates an annual rental income of EUR 13.9 million.

The purchase price for the company owning the Treptowers building amounts to approx. EUR 230 million; as part of the 'Report on the enterprise value and appropriate cash compensation' KPMG had confirmed that a disposal at such price will have no impact on the enterprise value of Deutsche Office and, accordingly, on the cash compensation to be offered to Deutsche Office shareholders in accordance with Sec. 207 UmwG in relation to the transformation of Deutsche Office into a limited partnership. As announced on May 27, 2016 the Management Board and the Supervisory Board of Deutsche Office propose a cash compensation of EUR 4.68 per share to the Annual General Meeting to be held on July 12, 2016 in Cologne.

Deutsche Office was advised by alstria office REIT-AG in the disposal process.

The transaction was brokered by JLL.

The seller was advised by Freshfields Bruckhaus Deringer. The buyer was advised by Clifford Chance.

Contact:
Ralf Dibbern, IR/PR
Phone: [phone]
Email: [e-mail]

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.

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