Hamburg-based Alstria Office has announced that it is offering 25.4 million shares, with a price range from EUR 16 to EUR 17.50 a share, in its IPO to retail and institutional investors in Germany and Luxembourg. The offer period runs from 28 March to noon on 2 April.
Hamburg-based Alstria Office has announced that it is offering 25.4 million shares, with a price range from EUR 16 to EUR 17.50 a share, in its IPO to retail and institutional investors in Germany and Luxembourg. The offer period runs from 28 March to noon on 2 April.
Founded in January 2006 by a subsidiary of Captiva Capital Partners 2 SCA, Alstria is focused solely on owning and managing office real estate in Germany. It owns 71 properties valued at EUR 1.6 bn and intends to invest a further EUR 500-750 mln in property over the next three years.
Olivier Elamine, ceo of Alstria, said that based upon the current legislative proposal for the introduction of German real estate investment trusts (G-REITs), the company intends to convert to the tax-efficient vehicle. 'However, the legislative process is not finalised and no assurance can be given that Alstria will convert into a G-REIT,' Elamine said.
