DEMIRE Deutsche Mittelstand Real Estate AG extends lease with public sector company in Essen
DGAP-News: DEMIRE Deutsche Mittelstand Real Estate AG / Key word(s): Real Estate
DEMIRE extends lease with public sector company in Essen
Langen, 30 August 2021. DEMIRE Deutsche Mittelstand Real Estate AG (ISIN: DE000A0XFSF0) has extended its lease agreement for 3,000 sqm with the Medical Service of the Central Association of the Public Health Insurances (MDS) in Essen, which has been in place since 2011, for five further years. The company sees the extension of this contract with the MDS as confirmation of the attractiveness of the office location, especially in view of the general work from home discussion.
Built in 1996, the office complex at Theodor-Althoff-Straße 39-47 in the appealing Bredeney submarket in the south of Essen covers a site area of 36,000 sqm and has a total lettable area of 45,500 sqm. Only last year, DEMIRE was able to lease around 7,000 sqm in the same office building on a long-term basis to "Die Autobahn GmbH des Bundes", another tennant from the public sector. DEMIRE acquired the asset in 2019 and has since been continuously reducing the vacancy rate through active asset management.
The location is well connected to local public transport and to the highway network via the connection to the A52 motorway. There is a direct connection to the city centre, Essen's main railway station and Düsseldorf Airport.
DEMIRE Deutsche Mittelstand Real Estate AG
About DEMIRE Deutsche Mittelstand Real Estate AG
DEMIRE Deutsche Mittelstand Real Estate AG acquires and holds commercial real estate in mid-sized cities and up-and-coming locations bordering metropolitan areas across German. The Company's particular strength lies in realising the potential of the properties at these locations while focusing on a range of properties that appeals to both regional and international tenants. As of 30 June 2021, DEMIRE's portfolio contains of 70 assets with lettable space totalling about 1 million sqm and has a market value in excess of EUR 1.4 billion.
The portfolio's focus on office properties with a blend of retail, hotel and logistics properties results in a return / risk structure that is appropriate for the commercial real estate segment. The Company places importance on long-term contracts with solvent tenants and the realisation of the properties' potential. DEMIRE anticipates continued stable and sustainable rental income along with solid value appreciation and expects the portfolio to grow significantly in the medium term. As it expands its portfolio, DEMIRE is concentrating on FFO-strong assets with potential and, at the same time, disposing of properties that are not in line with its strategy. DEMIRE is taking several steps to further the development of its operations and processes. Next to cost consciousness, the operating performance is set to improve through an active asset and portfolio management approach.
DEMIRE Deutsche Mittelstand Real Estate AG shares are listed in the Regulated Market (Prime Standard segment) of the Frankfurt Stock Exchange.
|Company:||DEMIRE Deutsche Mittelstand Real Estate AG|
|Robert-Bosch-Straße 11 im 'the eleven'|
|63225 Langen (Hessen)|
|Phone:||+49 6103 37249-0|
|Fax:||+49 6103 37249-11|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Stuttgart, Tradegate Exchange|
|EQS News ID:||1229798|
|End of News||DGAP News Service|