Godewind Immobilien AG leases around 3,000 m² of office space in the sunsquare office complex in Kirchheim near Munich

• New rental agreement reduces vacancy in sunsquare near Munich by around 24%
• Annual net cold rent in sunsquare increases by around 60% to around EUR 1.3 million
• Rental agreement with a term of 10 years, WALT increases to 5.8 years
• Further milestone in implementing of the value-add/manage-2-core-strategy

Frankfurt am Main, 27 May 2019 - Godewind Immobilien AG (ISIN: DE000A2G8XX3, trading symbol: GWD, Godewind), a company specializing in German office real estate, announces another milestone in the reduction of vacancies in its office real estate portfolio shortly after the first significant letting success.

Just a few months after the acquisition of the sunsquare office complex in Kirchheim near Munich, Godewind concluded a ten-year rental agreement for 3,042 m² of office space and 116 m² of storage space at attractive market rents with a medium-sized company providing solutions for the logistic industry. The rental period begins on the first of December this year. Due to the excellent negotiations of the Godewind asset management team, the key property figures will improve considerably as a result of this new contract. The contracted annual net cold rent for the property will increase by around 60 percent to EUR 1.3 million through this agreement. Sunsquare's vacancy rate will decline from around 64 percent at the beginning of the year to approximately 48 percent. The average remaining term of the tenancy (WALT) increases to now 5.8 years after 3.4 years previously. These parameters will have a positive impact on the valuation of sunsquare and thus the overall portfolio as of 30 June 2019.

Through continued active asset management, Godewind aims to achieve further short-term successes in reducing the strategically purchased vacancy rate of the entire portfolio of initial 28 percent. This vacancy was recently reduced to around 26 percent by the letting in the Frankfurt Airport Center. As a result of the new lettings in sunsquare, this will now be reduced to around 25 percent. Including the latest acquisition, City Gate Tower in Frankfurt, the vacancy rate in the portfolio is currently still around 24 percent. This remaining vacancy offers further growth potential, which is expected to increase Godewind's net asset value (NAV) significant in the medium term. The current letting successes are a further milestone in the implementation of Godewind's value-add/manage-2-core-strategy. The deals demonstrate the company's ability to rapidly leverage the growth potential of its office real estate portfolio.

"After taking over the sunsquare at the end of 2018, we are delighted to have found a creditworthy and long-term tenant for this office complex in such a short time," explains Stavros Efremidis, CEO of Godewind. "Again, we achieved a significant reduction in vacancies right from the start. With our inhouse active asset management team, we have successfully repositioned the property. This enables us to benefit from the ongoing high demand for office space at our premises even further in the future."

About the object
Sunsquare is located directly at the S-Bahn station in Kirchheim near Munich and has a total area of around 19,490 m² and 16,845 m² of office space and 644 parking spaces. In addition to its attractive traffic situation the office complex has an expansion potential of around 15,500 m².
The location of the property on Google Maps: .

About Godewind Immobilien AG
Godewind Immobilien AG, headquartered in Frankfurt am Main, is a company specializing in German office real estate. The company's focus is on building an attractive real estate portfolio with a focus on office properties. As an active portfolio and asset manager, Godewind strives for sustainable increases in earnings and income, which are supplemented by the regular realisation of added value potential. Currently Godewind owns a secured or rather acquired office portfolio of around EUR 850 million. In the medium term, the aim is to build a commercial real estate portfolio of around three billion euros with the help of the company's wide-ranging network and by means of value-added acquisitions.

Based on its internal portfolio and asset management, Godewind Immobilien AG will manage commercial properties cost-effectively, enter into long-term tenancy agreements and thus increase its enterprise value. The company has tax loss carry-forwards for corporation and trade tax, as well as a tax-free capital reserve. Godewind Immobilien AG shares are traded in the Prime Standard segment of the Frankfurt Stock Exchange (FWB). For further information please visit

Contact Details

Investor Relations Contact
Gunnar Janssen
Godewind Immobilien AG
Phone 32 13
E-mail

Press Contact
Jan Hutterer
Kirchhoff Consult AG
Phone 65
E-mail

Disclaimer:
This announcement is for information purposes only and does not constitute or should not be construed as an offer to sell or subscribe for, or an offer to sell or subscribe for, or an invitation to make an offer to buy or subscribe for, or an invitation to make an offer to buy or subscribe for, any common stock of Godewind Immobilien AG (the "Company" and such shares, the "Shares") in the United States of America or any other jurisdiction.