DEMIRE leases 56,000 sqm to IMOTEX in Neuss near Düsseldorf

Langen, 20. July 2022. DEMIRE Deutsche Mittelstand Real Estate AG (ISIN: DE000A0XFSF0) has extended the lease for a commercial property  in the German city of Neuss near Düsseldorf. The well-known fashion wholesale platform “IMOTEX Modecenter” will continue to use the property at Breslauer Straße 8 as a competence centre for fashion wholesale on site as well as digitally for the next three years. The property comprises around 56,000 sqm of rental space. In addition, DEMIRE commissioned the previous centre manager UNIMO to manage the center for three more years with the new contract starting as of 01.01.2023.

IMOTEX uses the property for sales and storage areas. Over 140 show rooms house around 400 fashion collections. The contract extension with the centre manager UNIMO means that the proven service for customers will be maintained.

IMOTEX in Neuss has been one of the established fashion locations in Germany for decades and is very well known among industry professional even beyond the country's borders. The building benefits from its location on the outskirts of Düsseldorf and its good public transport connection.

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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 31 December 2021, DEMIRE's portfolio contains of 64 assets with lettable space totalling about 1 million sqm. Including the proportionately acquired Cielo property in Frankfurt/Main, the market value amounts to so approximately EUR 1.7 billion.

The portfolio focuses 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.

Media contact:

Daniel Gabel

Feldhoff & Cie. GmbH
Director | CIRO
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