GxP German Properties successfully concludes Q3 2017

• Three acquisitions push up market value of property portfolio to approx. EUR 164 million
• Vacancy rate down and total WAULT up due to successful asset management and portfolio ex-pansion

Frankfurt, December 01, 2017 – GxP German Properties AG (ISIN: DE000A2E4L00, WKN: A2E4L0) today announced that it has continued its successful business performance in the third quarter of 2017.

The company in the third quarter acquired three properties in Frankfurt, Hamm and Berlin-Teltow with a volume of approx. EUR 48 million, lifting the value of its recognised and contractually secured total portfolio (GAV) comprising 12 properties to approx. EUR 164 million as at 30 September 2017.

Two of the three acquired properties have already been consolidated at the start of the fourth quarter of 2017.

The net loan-to-value (LTV) as at the end of the third quarter was below 60 per cent, compared with 63.3 per cent at year-end 2016.

The annualised rental income of the GAV including the new acquisitions has increased to EUR 10.5 mil-lion after EUR 7.7 million as at 30 June 2017. In addition to the newly acquired properties, the compa-ny’s successful asset management was also a factor contributing to this increase in the third quarter. As a result of lease renewals in the existing portfolio of 8,700 square metres and new leases for 1,500 square metres, the portfolio’s weighted average unexpired lease term (WAULT) including the new acquisitions has increased to 3.6 years as at the end of November 2017. The vacancy rate in the existing portfolio was reduced to 12.8 per cent as at the end of November 2017.
The average interest rate on the outstanding debt remained steady at the 30 June 2017 value of 2.1 per cent.

IR Contact

Axel Mühlhaus / Patrick Wang
edicto GmbH
Eschersheimer Landstr. 42-44
D-60322 Frankfurt
Tel.: +49 (0) 69/ 905505-52
Fax: +49 (0) 69/ 905505-77
E-Mail: gxp@edicto.de

CONSUS Real Estate AG acquires majority stake in GxP German Properties AG

Frankfurt, November 10, 2017 – GxP German Properties (ISIN: DE000A2E4L00, WKN: A2E4L0) was notified today by CONSUS Real Estate AG that it has agreed to acquire a majority stake of ca. 58% in the share capital of GxP German Properties AG.

The supervisory board and the management board of GxP German Properties AG acknowledge the change in the company’s shareholder structure and welcome CONSUS Real Estate AG as its new majority shareholder.

IR Contact

Axel Mühlhaus / Patrick Wang
edicto GmbH
Eschersheimer Landstr. 42-44
D-60322 Frankfurt
Tel.: +49 (0) 69/ 905505-52
Fax: +49 (0) 69/ 905505-77
E-Mail: gxp@edicto.de

GxP German Properties: Closing of two office assets in Frankfurt and Hamm

Frankfurt, October 13, 2017 – GxP German Properties (ISIN: DE000A2E4L00, WKN: A2E4L0) has closed the acquisitions of the two office assets in Frankfurt and Hamm with a combined market value of € 29.8 million and a total lettable area of approx. 17,200 square meters.

The current total market value of its real estate portfolio stands at approx. € 164 million thereof € 146 million currently on the balance sheet.

The transfer of ownership of the recently acquired asset in Berlin-Teltow with a market value of € 18.2 mil-lion and a total lettable area of approx. 10,000 square meters is on track to close as planned within the fourth quarter.

IR Contact

Axel Mühlhaus / Patrick Wang
edicto GmbH
Eschersheimer Landstr. 42-44
D-60322 Frankfurt
Tel.: +49 (0) 69/ 905505-52
Fax: +49 (0) 69/ 905505-77
E-Mail: gxp@edicto.de

GxP German Properties extends significant rental agreement and increases overall WAULT

Frankfurt, 1 September 2017 – GxP German Properties (ISIN: DE000A2E4L00, WKN: A2E4L0) has extended a significant rental agreement for a rentable space of 6,360 square meters with the anchor tenant in the owned office in Meerbusch increasing the WAULT to 5.9 years. With a 8.4% share of GxP’s total net rental income, the anchor tenant is GxP’s second largest single tenant. The lease extension was achieved without any capex measures.

With these rental improvements the weighted average lease term (WAULT) increases to 3.6 years (30 June 2017: 3.0 years).

In 2017 to date new rental agreements for around 2,500 square metres have been agreed for the existing GxP portfolio in the cities of Hanover, Mannheim and Dresden and a lease extension for 6,360 square meters in Meerbusch confirming the operational success of the inhouse GxP asset management team.

Johannes Meran, CEO: "With the significant lease extension without any capex in Meerbusch we have demonstrated that our tenant and location strategy is on track and we are a reliable, long-term partner for our anchor tenants. With the new lease contract with GxP’s overall second largest single tenant and a maturity of almost 6 years we are able to increase the overall WAULT significantly and confirm the great diversification of our tenant portfolio.“

IR Contact

Axel Mühlhaus / Patrick Wang
edicto GmbH
Eschersheimer Landstr. 42-44
D-60322 Frankfurt
Tel.: +49 (0) 69/ 905505-52
Fax: +49 (0) 69/ 905505-77
E-Mail: gxp@edicto.de

GxP German Properties increases 1H 2017 results and guidance

• Market value of office properties at € 116 million, increase of 9.3% from year end 2016
• Increase in the NAV/share (1) from € 4.85 to € 5.79, increase of 19.4% from year end 2016
• Positive net income inkl. Revaluation gains of € 5.0m
• Increased guidance through the acquisition of Berlin-Teltow

Frankfurt, 31 August 2017 – GxP German Properties (ISIN: DE000A1YCNN8, WKN: A1YCNN) continued its growth phase in the first half of 2017. Six months after the operational launch and despite considerable investments costs the company realised a positive adjusted net income of € 5.0 million for the first half-year of 2017.

As of 30 June 2017, the owned real estate portfolio comprises nine office properties with a total market value of approx. € 116 million, an increase of + 9.3% from year end 2016.

The Net Asset Value (NAV) (1) as of June 30, 2017 increased by 19.4% to € 50.2 million or € 5.79 per share(1). The net Loan-To-Value ratio (LTV) as indicator for the company's debt ratio was reduced from 65.7% to below 60% in the first half of 2017 and is close to the mid-term target corridor of 50-55%. As of June 30, 2017, the company's cash position stood at € 5.8 million. On 28 August 2017, a cash capital increase of € 3.6 million was placed and additional liquidity was created for the announced acquisition in Berlin-Teltow as well as further acquisitions.

Rental income in the first half of 2017 amounted to € 3.7 million confirming the previously guided annualized rental income of € 7.5 million.

Adjusted for the revaluation gains from the existing portfolio the Group achieved an adjusted net income of € 5.0 million in the first half of 2017. The FFO I for the first half of 2017 amounted to € 1.6 million confirming the previously provided guidance of approx. € 3.5 million.

Increased guidance through expansion of portfolio

On 28 August 2017, an additional office property was acquired in Berlin-Teltow with the total portfolio value increasing to € 134 million.

The weighted average lease term (WAULT) for the overall portfolio increases from 3.0 years to 3.2 years, with the vacancy rate reducing from 14.9% to 13.4%. The average interest rate on the outstanding debt is decreas-ing slightly from 2.2% to 2.1%.

The entire real estate portfolio including Berlin-Teltow generates an annualized rental income of around € 8.6 million. This corresponds to a net initial yield of approx. 6.4%. With this high-yielding portfolio the company expects an increased annualized FFO I of around € 4.0 million (previously € 3.5 million). The net initial yield as well as the implicit FFO yield based on the current market capitalization above 9% are clearly above the market average. Management expects an increase in the NAV/share including the acquisition in Berlin-Teltow from currently € 5.79/share to at least € 5.95/share. The strict acquisition criteria were consistently implemented through the recent acquisition with an expected increase in the core metrics NAV per share and FFO I.

1) NAV excl. goodwill. The reported NAV under HGB is € 83.6 million or € 9.65/share

IR Contact

Axel Mühlhaus / Patrick Wang
edicto GmbH
Eschersheimer Landstr. 42-44
D-60322 Frankfurt
Tel.: +49 (0) 69/ 905505-52
Fax: +49 (0) 69/ 905505-77
E-Mail: gxp@edicto.de

31 Mai 2017

GxP German Properties with successful start into 2017 financial year

Berlin, 31 May 2017 – GxP German Properties AG (ISIN: DE000A1YCNN8, WKN: A1YCNN) has started the financial year with additional completed acquisitions and asset management successes.

Q1 2017 financial figures reaffirm guidance

• Rental income in Q1 2017: €1.7 million
• On the basis of net rents for the month of March (€624,909.13), the portfolio is generating annual rental income of around €7.5 million, which is in line with previous guidance.
• The implied annualised gross yield of the portfolio stands at 7.1 per cent at the end of the quarter.
• The company reaffirms the FFO guidance of €3.5 million for full year 2017.
• As of year-end 2016, NAV per share was reported at €1.11 per share including the Dresden acquisition and at €0.61 per share excluding goodwill. These figures remain unchanged.
• With the completion of the Dresden acquisition and planned repayment of loans, the company’s cash level currently stands at €8.0 million as of 31 March 2017.
• The loan-to-value ratio stands at 65.9 per cent as of 31 March 2017.

Successful expansion of the property portfolio

In early February the company successfully completed the acquisition of a property comprising two office complexes in central location of the Saxon state capital Dresden. The two office complexes have a total rentable area of approximately 14,600 square metres, with a combined value of €17.8 million.

Operationally successful first quarter of 2017

With the closing of the Dresden property, rental space increased to 79,652 square metres as of end of the quarter (31 December 2016: 65,103 square metres). At the same time, the vacancy rate was reduced to 15.1 per cent (31 December 2016: 15.4 per cent). Net rent per square metre now average €9.28.

At the start of the first quarter, new rental agreements for around 2,500 square metres were agreed for the existing GxP portfolio in the cities of Hanover, Mannheim and Dresden.

• Hanover: New ten-year rental agreement for 1,142 square metres and a five-year contract extension for 524 square metres.
• Mannheim: New five-year rental agreement for 600 square metres.
• Dresden: Five-year contract extension with existing tenant to include 250 extra square metres.

With these rental improvements the weighted average lease term (WAULT) increased to 3.32 years (31 December 2016: 2.9 years).

GxP German Properties AG

With its headquarters in Berlin, GxP German Properties focuses on the Acquisition, Ownership and Management of office and retail properties in Germany. The investment strategy focuses on attractive commercial properties in the ‘Core+’ and ‘Value add’ segments in metropolitan regions and selected medium-sized cities in Germany. The company’s strategy is to leverage significant appreciation potential through proactive portfolio management whilst safeguarding sustainable rental revenues at the same time. To this end, it draws on both its many years of experience in the property market and its extensive network.

The company’s website can be accessed at www.gxpag.com

Contact:

GxP German Properties AG
Europa Center 19. OG
Tauentzienstr. 9
10789 Berlin
Germany

Phone: +49 (0)30 886 267 40
Fax: +49 (0)30 886 267 411
E-mail: info@gxpag.com

Kirchhoff Consult AG
Herrengraben 1
20459 Hamburg
Germany

Phone: +49 (0)40 609 186 65
Fax: +49 (0)40 609 186 60
E-mail: gxp@kirchhoff.de

18 Mai 2017

Annual General Meeting passes all agenda points and sets path for further growth of company

• All agenda points passed with substantial majority of over 90% of votes
• Resolution for reverse stock split passed which enables further growth
• Dr Sebastian Glock voted onto supervisory board as independent non-executive director

Berlin, 18th May 2017 – GxP German Properties AG (ISIN: DE000A1YCNN8, WKN: A1YCNN) announces that at the annual general meeting of 17th May 2017 all resolutions which have been proposed by the board have been passed with more that 90% of the votes. Dr Sebastian Glock was voted onto the supervisory board as an independent non-executive board member and Mr Andreas Lewandowski was confirmed as a non-executive director. Further the seat of the company was transferred from Berlin to Frankfurt/Main.

The resolution for the reverse stock split at a ratio of 8:1 was passed with 92,65 percent of all votes. The reverse stock split is a purely technical measure to move the share price above the legal minimum issue price of one euro and to enable the company to raise new capital for further growth in the future. The value of the company and its equity capital remains unchanged through the reverse stock split.

The Annual General Meeting has further passed a resolution for a special audit of the cash and in-kind capital increase in 2016. The company welcomes this special audit.

All voting results of the AGM are published on the company’s website (www.gxpag.com)

GxP German Properties AG

With its headquarters in Berlin, GxP German Properties focuses on the Acquisition, Ownership and Management of office and retail properties in Germany. The investment strategy focuses on attractive commercial properties in the ‘Core+’ and ‘Value add’ segments in metropolitan regions and selected medium-sized cities in Germany. The company’s strategy is to leverage significant appreciation potential through proactive portfolio management whilst safeguarding sustainable rental revenues at the same time. To this end, it draws on both its many years of experience in the property market and its extensive network.

The company’s website can be accessed at www.gxpag.com

Contact:

GxP German Properties AG
Europa Center 19. OG
Tauentzienstr. 9
10789 Berlin
Germany

Phone: +49 (0)30 886 267 40
Fax: +49 (0)30 886 267 411
E-mail: info@gxpag.com

Kirchhoff Consult AG
Herrengraben 1
20459 Hamburg
Germany

Phone: +49 (0)40 609 186 65
Fax: +49 (0)40 609 186 60
E-mail: gxp@kirchhoff.de

31 March 2017

GxP German Properties publishes annual report 2016

Berlin, 31 March 2017 –  GxP German Properties (ISIN: DE000A1YCNN8, WKN: A1YCNN) has published its first annual report as a listed real estate company. The financial figures correspond to the preliminary figures published on 10 March 2017.

GxP’s owned property portfolio comprises nine office properties with a total market value of approximately €106.2 million.

The net asset value (NAV) including the acquisition of the Dresden property amounted to €77.2 million or €1.11 per share as of 31 December 2016. This figure includes a goodwill of €35.2 million. Excluding the goodwill, the NAV is €0.61 per share. The net loan-to-value (LTV) ratio, as an indicator of the company’s debt levels, stood at around 63 per cent at the end of 2016.

The current real estate portfolio is generating annualised rental income of around €7.5 million, which corresponds to a net initial rental yield of over 7.0 per cent. The company expects an annualised FFO I of approximately €3.5 million from the high-yielding portfolio. Both, net initial yield as well as the implied FFO yield of 8.5% (based on the current market capitalization) are well above the market average.

The company has further optimized its current portfolio through active asset management. Since the acquisition of the existing portfolio in December 2016 and February 2017 respectively, new leases of approximately 2,000 square meters or 2.5% of the total area of ​​about 80,000 square meters have been signed.

The profit and loss statement according to German GAAP (HGB) of the 2016 financial year is not meaningful as a result of the transfer of the first portfolio acquisition on December 5, 2016 and the extraordinary expenses associated with the capital increase as well as the stock exchange listing. Including the valuation gains from the portfolio (Lucky-buy) the group achieved an adjusted result of more than €7 million in 2016.

The complete annual report 2016 as well as a current company presentation of GxP German Properties AG can be downloaded from the company's website at www.gxpag.com.

GxP German Properties AG

With its headquarters in Berlin, GxP German Properties focuses on the Acquisition, Ownership and Management of office and retail properties in Germany. The investment strategy focuses on attractive commercial properties in the ‘Core+’ and ‘Value add’ segments in metropolitan regions and selected medium-sized cities in Germany. The company’s strategy is to leverage significant appreciation potential through proactive portfolio management whilst safeguarding sustainable rental revenues at the same time. To this end, it draws on both its many years of experience in the property market and its extensive network.

The company’s website can be accessed at www.gxpag.com

Kontakte:

GxP German Properties AG
Europa Center 19. OG
Tauentzienstr. 9
D-10789 Berlin

TEL: +49 (0)30 886 267 40
FAX: +49 (0)30 886 267 411
E-MAIL: info@gxpag.com

Kirchhoff Consult AG
Herrengraben 1
20459 Hamburg

TEL: +49 (0)40 609 186 65
FAX: +49 (0)40 609 186 60
E-MAIL: gxp@kirchhoff.de

10. März 2017

GxP German Properties publishes preliminary financial figures for 2016

Berlin, 10 March 2017 – The financial year 2016 was characterised by the debut of GxP German Properties (ISIN: DE000A1YCNN8, WKN: A1YCNN) as a publicly listed German commercial real estate company. GxP acquired its first property portfolio in October 2016. The company managed to considerably increase its capital at the end of 2016 through an entirely placed cash capital increase.

Consolidated financial statements 2016 have been prepared in accordance with German GAAP (HGB) and are largely characterised by the preparations for the relaunch.

As of 31 December 2016, the owned property portfolio comprised eight office properties with a total value of around €90 million. Following the fiscal year end, the acquisition of another property in Dresden was closed, resulting in a total value of the GxP portfolio of €106.2 million.

The net asset value (NAV) including the acquisition of the Dresden property amounted to €77.2 million or €1.11 per share as of 31 December 2016. This figure includes a stated goodwill of €35.2 million. The net loan-to-value (LTV) ratio, as an indicator of the company’s debt levels, stood at around 65 per cent at the end of 2016. As per 31st December 2016 GxP held about €11.1 million of cash on its balance sheet, respectively proforma around €7.5 million taking into account the acquisition of the Dresden property.

The profit and loss statement for the financial year 2016 is not meaningful as the final transfer of the portfolio acquisition occurred only on December 5, 2016 and the extraordinary expenses associated with the capital increase and the stock exchange listing.

Overall GxP has acquired nine commercial properties since its relaunch end of 2016 with a current valuation of €106.2 million and total rental area of around 80,000 square metres with high potential for further value increase. With an initial vacancy rate of approximately 15 per cent the portfolio is generating annualised rental income of around €7.4 million which corresponds to a net initial rental yield of around 7.0 per cent. The weighted average lease term (WAULT) is around three years. The company expects an annualised FFO I of approximately €3.5 million from the initial high-yielding portfolio. Both net initial yield and implied FFO yield are well above the market average.

GxP German Properties will publish its 2016 Annual Report after its final approval on 31 March 2017 and make it available for download on its website.

GxP German Properties AG

With its headquarters in Berlin, GxP German Properties focuses on the Acquisition, Ownership and Management of office and retail properties in Germany. The investment strategy focuses on attractive commercial properties in the ‘Core+’ and ‘Value add’ segments in metropolitan regions and selected medium-sized cities in Germany. The company’s strategy is to leverage significant appreciation potential through proactive portfolio management whilst safeguarding sustainable rental revenues at the same time. To this end, it draws on both its many years of experience in the property market and its extensive network.

The company’s website can be accessed at www.gxpag.com

Kontakte:

GxP German Properties AG
Europa Center 19. OG
Tauentzienstr. 9
D-10789 Berlin

TEL: +49 (0)30 886 267 40
FAX: +49 (0)30 886 267 411
E-MAIL: info@gxpag.com

Kirchhoff Consult AG
Herrengraben 1
20459 Hamburg

TEL: +49 (0)40 609 186 65
FAX: +49 (0)40 609 186 60
E-MAIL: gxp@kirchhoff.de