German-listed office specialist Publity has bought two assets in major German cities with a total lettable area of 74,000 m2.
German-listed office specialist Publity has bought two assets in major German cities with a total lettable area of 74,000 m2.
Bredeney, an eight-storey building in Essen with entrances on Hazper Straße and Theodor-Althoff-Straße, has 46,000 m2 of office space. Tenants include ThyssenKrupp and regional public highways agency Straßen NRW.
Publity also bought the Deelbögenkamp 4 office complex in Hamburg's Alsterdorf district, which has 28,000 m2 of space. The main tenant is Verwaltungsberufsgenossenschaft (VBG), the institution for statutory accident Insurance and prevention in the administrative sector.
Financial details of the transactions were not disclosed.
‘This prominent asset is ideally suited to our manage-to-core strategy,’ said executive board chairman Thomas Olek of the Essen building. ‘We are convinced that office buildings can be optimised in a short time.’
The Leipzig-based office investor and asset manager listed on the Frankfurt stock exchange in April. It reported assets under management of €880 mln in its H1 financial filing for 2015 and raised its full-year forecast from €1.2 bn to €1.4 bn.
