DEMIRE Deutsche Mittelstand Real Estate AG: DEMIRE relocates offices to Group property located in Langen near Frankfurt
DGAP-News: DEMIRE Deutsche Mittelstand Real Estate AG / Key word(s): Real Estate/Miscellaneous
DEMIRE relocates offices to Group property located in Langen near Frankfurt
Frankfurt/Main, 21 September 2016 - DEMIRE Deutsche Mittelstand Real Estate AG (ISIN: DE000A0XFSF0) will relocate its offices in November 2016 from their current location in Frankfurt/Main to Langen near Frankfurt. The new leased property located at Robert-Bosch-Straße 11 is owned by a subsidiary of the subgroup Fair Value REIT-AG. The five-year lease agreement for the space consisting of roughly 1,200 m² increases the income-weighted occupancy rate of this property from almost 60 % as per June 30, 2016 to nearly 70 % of the achievable rents at full occupancy.
Markus Drews, COO of DEMIRE AG commented: "The space in Langen is a good fit for DEMIRE as a fast-growing holder of commercial property in secondary locations in Germany - modern, well-situated office property, attractive rents and comparably low trade tax rates. Not only that, but we also increase the occupancy of our own Group portfolio. Our relocating to a secondary location is in line with our strategy and, moreover, a sensible move".
DEMIRE Deutsche Mittelstand Real Estate AG
About DEMIRE - First in secondary locations
DEMIRE Deutsche Mittelstand Real Estate AG has commercial real estate holdings in mid-sized cities and up and coming areas bordering German metropolitan areas. As at June 30, 2016, DEMIRE held real estate consisting of 178 properties with a market value of EUR 982 million. As at the reporting date, contractual rents had been firmly agreed upon in the amount of EUR 74.2 million (at an occupancy rate of 87.8 % of the potential rents of EUR 84.5 million) for a term of 5.4 years.
DEMIRE aims to maintain its corporate organisation as lean as possible, although it still believes that economies of scale and portfolio optimisation are best achieved by having its own in-house asset, property and facility management. This safeguards the Company's business expertise and, equally important, allows the Company to maintain direct contact with the customer.
DEMIRE Deutsche Mittelstand Real Estate AG shares (ISIN: DE000A0XFSF0) are listed in the Prime Standard segment of the Deutsche Börse in Frankfurt.
|Company:||DEMIRE Deutsche Mittelstand Real Estate AG|
|Lyoner Straße 32|
|60528 Frankfurt am Main|
|Phone:||+49 (0)69 / 719 189 79 0|
|Fax:||+49 (0)69 / 719 189 79 11|
|Listed:||Regulated Market in Berlin, Frankfurt (Prime Standard); Regulated Unofficial Market in Dusseldorf, Stuttgart, Tradegate Exchange|
|End of News||DGAP News Service|