DGAP-News: PREOS Real Estate AG continues portfolio expansion and acquires office property in Oberhausen

Nachricht vom 17.01.201917.01.2019 (www.4investors.de) -

DGAP-News: PREOS Real Estate AG / Key word(s): Real Estate/Acquisition

PREOS Real Estate AG continues portfolio expansion and acquires office property in Oberhausen
17.01.2019 / 08:05

The issuer is solely responsible for the content of this announcement.
PREOS Real Estate AG continues portfolio expansion and acquires office property in Oberhausen

- Fully-let property with 2,500 sqm of commercial space

- Subsidiary of a major German industrial group is the long-term anchor tenant

- Gross initial yield well above 6 percent

Leipzig, 17 January 2019 - PREOS Real Estate AG ("PREOS", ISIN DE000A2LQ850), an active real estate investor focused on office properties, today announced that it has further expanded its portfolio. The company has signed an agreement to acquire an office building in the Ruhr city of Oberhausen. Constructed in 2010 with commercial space totalling around 2,500 sqm and 70 parking spaces, the building is fully let to a subsidiary of a major German industrial group. There are approximately six years remaining on the existing lease.

The modern property has an excellent floor plan and is equipped to a high standard. There is potential for expanding the property, which offers exceptional third-party utilisation opportunities. The office building is located in an established commercial zone with excellent regional and nationwide transport links. The transaction is expected to close in the first half of 2019.

The acquisition increases the PREOS portfolio to 11 assets, including properties in the Munich, Cologne, Düsseldorf, Frankfurt and Stuttgart metropolitan areas with a total lettable area of approximately 55,000 sqm. The average remaining lease term for the 11 properties is more than eight years. PREOS plans to expand its portfolio further in the near future. The company has also received initial inquiries concerning the sale of selected assets.

Libor Vincent, CFO of PREOS: "This acquisition enables us to expand our portfolio rapidly and in line with our strategy. Above all it shows that, even in the current market environment, it is possible to acquire attractive office properties that also meet our ambitious return targets. Together with our partners, we are also actively exploring the market for additional transaction opportunities that will allow us to create value for our shareholders."

CUBION Immobilien AG and publity AG advised on this transaction. CMS served as legal advisors, while Albrings & Müller provided technical advice.

About PREOS Real Estate AG
PREOS Real Estate AG ("PREOS") is an active real estate investor focused on office properties. PREOS acts as an efficient management holding company. The company focuses its acquisitions on office buildings in German metropolitan areas, with potential to generate value through effective asset management. Developed properties are sold as suitable selling opportunities arise. The company's strategy is to significantly enlarge its real estate portfolio through acquisitions over the next few years. PREOS shares (ISIN DE000A2LQ850) are listed on the m:access open market segment of the Munich Stock Exchange (PAG.MU) as well as on Xetra (PAG.DE). The company is headquartered in Leipzig.

PREOS Real Estate AG
Landsteinerstraße 6
04103 Leipzig
Phone: +49 (0)341 261787-790
Email: info@preos.de

Investor & Public Relations
edicto GmbH
Axel Mühlhaus / Hubert Bonn
Eschersheimer Landstraße 42
60322 Frankfurt am Main
Phone: +49 (0)69 905505-52
Email: preos@edicto.de

This publication can include forward-looking statements. Forward-looking statements are all statements which do not relate to historical facts or events. This applies in particular to information concerning the company's intentions, convictions or current expectations with regard to its future financial earning capacity, plans, liquidity, perspectives, growth, strategy and profitability as well as the underlying economic conditions to which the company is exposed. The forward-looking statements are based on the company's current forecasts and estimates made according to its best judgement. Any such forward-looking statements are, however, subject to risks and uncertainties, as they are based on future events and assumptions which may not occur in the future. The company does not undertake to update or amend the forward-looking statements included in this publication, nor to reflect circumstances which occur after the date of this publication to the extent that these do not constitute insider information with a publication requirement.

17.01.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

PREOS Real Estate AG

Landsteinerstraße 6

04103 Leipzig

0341 261787790
Regulated Unofficial Market in Frankfurt, Munich

End of News
DGAP News Service

766953  17.01.2019 

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