DGAP-News: PREOS Real Estate AG sells 100,000 square metre property in Essen to SIGNA Group

DGAP-News: PREOS Real Estate AG / Key word(s): Disposal/Real Estate
PREOS Real Estate AG sells 100,000 square metre property in Essen to SIGNA
Group

25.09.2020 / 13:00
The issuer is solely responsible for the content of this announcement.

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PREOS Real Estate AG sells 100,000 square metre property in Essen to SIGNA
Group

Frankfurt am Main, 25.09.2020 - PEOS Real Estate (in future: PREOS Global
Office Real Estate & Technology AG, ISIN: DE000A2LQ850, abbreviated "PREOS")
has successfully sold a property with around 100,000 square metres of floor
space in Essen-Bredeney to the SIGNA Group. The parties have agreed not to
disclose the purchase price.

Among the tenants of the property on Theodor-Althoff-Strasse is the Galeria
Karstadt Kaufhof Group, which has established its headquarters here. Another
major tenant is furthermore the Essen Police, which recently concluded a
30-year lease and moved into the new facilities in mid August 2020. In recent
years, the PREOS parent company, publity AG, has developed the property
extensively in its capacity as asset manager and has successfully implemented
an investment programme worth around EUR 80 million.

Legal support for the transaction on the PREOS side is provided by the law
firm Simmons & Simmons and by the law firm McDermott Will & Emery on the SIGNA
Group side.

Frederik Mehlitz, CEO of PREOS Real Estate: "The successful sale of the
property in Essen illustrates the attractiveness of our portfolio. We
recognise the development potential of real estate and use it successfully.
The long-term tenancy agreement with the Essen Police Headquarters further
illustrates the high value of the property. The sale demonstrates our highly
profitable business model".

Timo Herzberg, CEO at SIGNA: "We are pleased that we now also include the
headquarters of Galeria Karstadt Kaufhof in our portfolio. The previous owner
completely renovated the property and transformed it into a modern office
building. With the Essen Police Headquarters, another attractive tenant has
recently moved in, who will use the property in the long term".
 

Press Contact:
Financial Press and Investor Relations:
edicto GmbH
Axel Mühlhaus
Phone: +49 69 905505-52
Mail: [email protected]
 

About PREOS Real Estate AG
PREOS Real Estate AG (in future: PREOS Real Estate & Technology AG, "PREOS")
is an active real estate investor focused on office properties. PREOS acts as
an efficient management holding company. The acquisition focuses on office
properties with development potential in German metropolitan regions. Value
creation is generated by targeted asset management measures. Developed
portfolio properties are sold in the event of adequate sales opportunities.
The corporate strategy is to significantly expand the real estate portfolio
through acquisitions in the coming years. The PREOS share (ISIN DE000A2LQ850)
is listed in the over-the-counter segment m:access of the Munich Stock
Exchange (PAG.MU) and on Xetra (PAG.DE). The company headquarters of PREOS is
located in Leipzig.

 

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25.09.2020 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

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Language:    English
Company:     PREOS Real Estate AG
             Landsteinerstraße 6
             04103 Leipzig
             Germany
Phone:       0341 261787790
E-mail:      [email protected]
Internet:    www.preos.de
ISIN:        DE000A2LQ850
WKN:         A2LQ85
Listed:      Regulated Unofficial Market in Frankfurt, Munich
EQS News ID: 1136783


 
End of News DGAP News Service


1136783  25.09.2020 

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