DGAP-News: alstria office REIT-AG: Further 5,000 sqm letting success in Düsseldorf

Press Release

Further 5,000 sqm letting success in Düsseldorf

Hamburg, May 8, 2019 - alstria office REIT-AG (symbol: AOX, ISIN: DE000A0LD2U1) announces the signature of a new lease in one of its development assets in Düsseldorf.

alstria has signed a new lease for its asset in Kanzlerstr.8 in Düsseldorf. The new tenant will lease up approximately 5,000 square meters of office and ancillary space for a lease-term of 10 years. Kanzlerstr. 8 in Düsseldorf is part of alstria's development portfolio. The capex into the new let area of around EUR 600 per square meter moves the total rent per square meter from EUR 11.60 to EUR 14.40 (office rent: EUR 11.00 to EUR 13.60) and will result in an attractive incremental yield on cost^[1] of around 6%. The new lease will start in mid-2020 and generates an annual rental income of around EUR 865,000.
^[1] Difference between rent paid by the former tenant and the new rent in relation to the capex spent to achieve the new rent.

Contact IR/PR: 
Ralf Dibbern
Steinstr. 7
20095 Hamburg
+49 (0) 40 226 341 329
rdibbern@alstria.de

Further information:
www.alstria.com
www.beehive.work
www.twitter.com/alstria_REIT

About alstria:
alstria office REIT AG is the leading real-estate operator focusing solely on German office property in selected German markets. Our strategy is based on the ownership and an active management of our properties throughout their entire life cycle, strong added-value services to our customers and deep knowledge of the markets in which we operate. alstria strives for sustainable long-term value creation while taking advantage of short-term arbitrage of inefficiencies in the real estate markets. The portfolio comprises 115 buildings with a lettable area of 1.5 million square metres and a total portfolio value of EUR 3.9 billion.

Disclaimer:
This release constitutes neither an offer to sell nor a solicitation of an offer to buy any shares. As far as this press release contains forward-looking statements with respect to the business, financial condition and results of operations of alstria office REIT-AG (alstria), these statements are based on current expectations or beliefs of alstria's management. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or performance of the Company to differ materially from those reflected in such forward-looking statements. Apart from other factors not mentioned here, differences could occur as a result of changes in the overall economic situation and the competitive environment - especially in the core business segments and markets of alstria. Also, the development of the financial markets and changes in national as well as international provisions particularly in the field of tax legislation and financial reporting standards could have an effect. Terrorist attacks and their consequences could increase the likelihood and the extent of differences. alstria undertakes no obligation to publicly release any revisions or updates to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.