Godewind Immobilien AG with first significant lease success in Aschheim near Munich

• New rental agreement for around 4,100 m² office space with a DAX listed company
• Annual net cold rent increases to more than EUR 1.8 million in Eight Dornach in Aschheim
• Vacancy in Eight Dornach reduced by 50 percent to around 25 percent
• Rental agreement with a term (WALT) of 5 years

Frankfurt am Main, 24 September 2019 - Godewind Immobilien AG (ISIN: DE000A2G8XX3, trading symbol: GWD, Godewind), a company specializing in German office real estate, announces the first success in the reduction of vacancies in its office complex Eight Dornach in Aschheim near Munich.

Godewind concluded with a DAX listed company a rental agreement for 4,145 m² office space at attractive market rents. The rental contract has a term of 5 years initially. The rental period is expected to begin on the 1 May 2020. As a result of this significant new rental success the asset KPIs will improve based on the contractually secured rental agreements as follow:

- Pro forma annualized rental income will increase to more than EUR 1.8 million
- Vacancy rate will decline from 50.3 percent to 25.3 percent
- WALT will increase to 4.0 years after 3.3 years recently

These parameters will have a positive impact on the valuation of the Eight Dornach property as of year end 2019. The total new letting performance since the acquisition of all assets reduces the pro forma portfolio vacancy rate now to below 11 percent. This strategically acquired vacant space further on offers outstanding growth potential and helps to increase Godewind's net asset value (NAV) even further in the medium term. Godewind's recent rental success is an important milestone in this respect and proves again the attractiveness of the company's value-add-/manage-2-core-strategy.

About the property
Eight Dornach is located in the ExpoGate business park in Aschheim-Dornach directly at the city border to Munich. It has 16,530 square metres of office space and 263 parking spaces. Due to the immediate proximity to Munich and an optimal infrastructure, many well-known companies have settled in Aschheim-Dornach. The net purchase price for a total of 17,612 square meters was around EUR 30 million or on average around EUR 1,703 per square meter.

to see the location of the property on Google Maps.

Photo of the property
Description: Eight Dornach, Einsteinring 4-12, 85609 Aschheim-Dornach, Godewind Immobilien AG


About Godewind Immobilien AG
Godewind Immobilien AG, headquartered in Frankfurt am Main, is a company specialising in German office properties. The company's focus is on creating and expanding an attractive real estate portfolio in Germany's growth centres. As an active portfolio and asset manager, Godewind strives for sustainable increases in earnings and income, which are supplemented by regularly increasing upside potential. Godewind currently has an office property portfolio totalling around EUR 950 million. In the medium term, the aim is to create a commercial real estate portfolio of at least EUR 3 billion with the help of a wide-ranging network and by means of value-added acquisitions.

Based on internal portfolio and asset management, Godewind Immobilien AG will manage commercial properties cost effectively, conclude long-term tenancy agreements and thus increase the value of the company. The company has loss carryforwards for corporation and trade tax and a tax deposit account. The Godewind Immobilien AG share is listed at the highest transparency level of Deutsche Börse AG, Prime Standard, and is traded amongst other in the XETRA market 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