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DGAP-News: alstria office REIT-AG / Key word(s): Miscellaneous alstria office REIT-AG: alstria leases 2,000 sqm in Hamburg

26.11.2013 / 17:34

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Press release

alstria leases 2,000 sqm in Hamburg

- Global advertising agency leases around 2,000 sqm in alstria's Holstenhof (Kaiser-Wilhelm-Strasse 79-87)

- Historical building in the inner city of Hamburg is undergoing a full refurbishment

Hamburg, November 26, 2013 - alstria office REIT-AG (symbol: AOX, ISIN: DE000A0LD2U1), the leading German office REIT, announces the signing of a lease for one of its development assets located in the inner city of Hamburg.

With the new leasing success in its Holstenhof asset (Kaiser-Wilhelm-Strasse 79-87, Hamburg) alstria continues its progress in the development segment. The new tenant, a leading advertising agency, signed a 5-year lease for approximately one third of the available space. The lease will start on July 1, 2014. After the entire lease-up, the building will generate an annual rental income of EUR 1.1 m.

alstria acquired the 5,500 sqm asset in 2006 from the City of Hamburg with an annual rental income of EUR 500 k. After the relocation of the former tenant into another building of alstria's portfolio the Company initiated a complete refurbishment, which substantially improves the quality and attractiveness of the asset, while safeguarding its historical nature. The building will be certified by the 'BREEAM International Green Building Standard'.

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PRESS RELEASE: alstria office REIT-AG: alstria leases 2,000 sqm in Hamburg