DO DEUTSCHE OFFICE AG Cologne, 20February 2015.
In the Taunusstrasse property in Munich, tenancy agreements have been signed with a leading development and consulting partner for electronics and information technology on a total area of around 2,200 sqm, each over a term of 5 years. This has produced increases in rental income of around 10%. The property now has a weighted average lease term ("WALT") of approximately six years and is fully leased.
A ten-year tenancy agreement has been further signed with a non-profit association on 637 sqm in the property on Potsdamer Platz in Bonn. The new tenant will move into the premises from August 1, 2015, bringing the occupancy rate of the property in Bonn's Nordstadt area up to around 95%. The property now has a WALT of approximately seven years.
The tenancy agreements in Munich and Bonn successfully underpin the strategy of sustainably increasing property occupancy rates in the course of an active asset management approach.
Letting contact:
DO Deutsche Office AG
Jörg Kesting
Head of Asset Management
E-Mail jkesting@deutsche-office.de
Telephone +49 (0)221 - 888 29 210
Corporate contact:
DO Deutsche Office AG
Richard Berg
Head of Investor Relations & Corporate Communications
Email rberg@deutsche-office.de
Telephone +49 (0)221 - 888 29 160
About DO Deutsche Office AG
Deutsche Office is a leading exchange-listed office property company, focussing on German metropolitan regions and conurbations. As at 30 September 2014, its geographically diversified real estate portfolio contained 53 properties held as investments, with a total rental area of about 936,000 square metres and an attractive and broad tenant base. As at 30 September 2014, the properties had a market value of about EUR 1.8 billion. Deutsche Office's business model is based on the profit-oriented asset management of office properties in German metropolitan regions, underpinned by investment to increase and to maintain the value of the properties in the portfolio. The strategy also includes the acquisition of properties with potential for appreciation as well as exploiting potential sales opportunities, which are applied throughout the entire property cycle in order to capitalise the appreciation achieved and to invest in new properties.
Additional information on Deutsche Office is available online at:
http://deutsche-office.de
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