Berlin, 15 October 2016

GxP German Properties acquires office portfolio for €73 million

- Purchase of eight office properties with focus on the Frankfurt Rhine–Main Region
- Total rental area of 65,100 square metres
- Initial rental yield stands at 8.7 per cent

Berlin, 15 October 2016 – GxP German Properties today signed an agreement for the acquisition of a real estate portfolio for a purchase price of €73 million. The portfolio consists of eight office properties with a lettable area of around 65,100 square meters. The current rental yield is around 8.7 per cent.

The majority of the acquired portfolio is located in the Frankfurt Rhine–Main Metropolitan Region with approximately 40,300 square meters. The remainder of the portfolio is split between Düsseldorf, Stuttgart, Mannheim and Hanover.

Closing of the transaction is expected end of November 2016.

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+/Value add segments in metropolitan regions and selected mid-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.

Contacts:

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