DEMIRE achieves full letting in Essen: Police contracts long-term lease for 24,000 m² in Bredeney office park

Langen, 18 November 2022. DEMIRE Deutsche Mittelstand Real Estate AG (ISIN: DE000A0XFSF0) has concluded a twenty-year lease agreement with the State of North Rhine-Westphalia, represented by the Essen police headquarters in the Bredeney office park at Theodor-Althoff-Strasse 39-47 in Essen. After a complete refurbishment and tenant-specific expansions, the police department will occupy approximately 24,100 m² by the year 2025.

With approx. 45,600 m² of rental space, the Bredeney office park is one of DEMIRE AG's largest office properties and was built in 1996. With the signing of the new lease, the property is fully let. Along with the new lease, the building will be partially gutted and comprehensively refurbished. The police’s headquarters is to meet the energy efficiency standard BEG-55. In addition to an energy efficiency program, including the installation of heat pumps and a photovoltaic power plant, DEMIRE extends the building through development measures. The redesign of the façade creates an urban landmark in a central location in the Essen-Bredeney district.

Ingo Hartlief, CEO of DEMIRE AG, says: "We prevailed in a public tender with our modern space concept, a comprehensive sustainability approach and good architectural design. This means that we are once again successfully repositioning an office building. Realising real estate potential is DEMIRE’s strength."

*****

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 September 2022, 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'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.

DEMIRE Deutsche Mittelstand Real Estate AG shares are listed in the Regulated Market (Prime Standard segment) of the Frankfurt Stock Exchange.”