DGAP-News: GORE German Office Real Estate AG
/ Key word(s): Real Estate/Disposal
GORE German Office Real Estate AG: Sale of a commercial property in Krefeld
27.12.2021 / 12:23
The issuer is solely responsible for the content of this announcement.
GORE German Office Real Estate AG: Sale of a commercial property in Krefeld
Frankfurt/Main, 27 December 2021 - GORE German Office Real Estate AG ("GORE", ISIN: DE000A0Z26C8) can report the successful sale of a fully let commercial property in North Rhine-Westphalia. The buyer of the property is Reality Germany Funds GmbH. The commercial property consists of two office buildings with a total rental area of around 13,241 square metres. Main tenant of the single tenant property is Air Liquide Deutschland GmbH. The property includes 239 parking spaces divided between a car park and outdoor areas. The commercial property is located in Krefeld, in the Rhine-Ruhr metropolitan region.
The transaction was brokered by the real estate agency Vita Park GmbH & Co. KG and legally advised by the law firm White & Case LLP. REALITY Germany was legally advised by the commercial law firm Fieldfisher. The parties have agreed not to disclose the purchase price.
The sale of a further property in Germany is a further step in GORE's planned realignment with a focus on the attractive Luxembourg commercial real estate market. It is intended to contribute a Luxembourg real estate and investment portfolio worth more than EUR 1 billion to the company.
About GORE
The GORE German Office Real Estate AG ("GORE") is a dynamically growing real estate investor with a focus on office properties in German conurbations. Using a manage-to-core approach, GORE acquires properties in preferred locations at below market value wherever possible in order to sustainably enhance their value. Investment activities focus on properties with a market value of between EUR 1 and 15 million. Compared to other property sizes, this size class offers a less competitive market environment in terms of purchasing according to GORE estimates. GORE's aim is to generate above-average value enhancement and return potential along the entire value chain, from acquisition through management to sale, together with its partners. The volume of the real estate portfolio is expected to be multiplied by acquisitions in the coming years.
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27.12.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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