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9 April 2019, Germany | Corporate Finance | News

Gera: POLIS buys 33,000 sqm of office space from TLG, Catella Property advises

POLIS Immobilien AG has acquired an office and service centre of around 33,000 sqm in the city centre of Gera. The acquisition was part of an asset deal. The seller is TLG IMMOBILIEN AG, Catella Property brokered the sale. 

The complex, which was built in 1985 and modernised in 2004, is located at Hermann-Drechsler-Strasse 1 and comprises approx. 33,000 sqm of rental space. In addition, there are 158 car parking spaces on the approx. 48,500 sqm property. The location is very well connected to the Leipzig and Erfurt areas via the nearby main railway station and the federal motorway 4.

More than 90% of the property is currently let, mostly to the Free State of Thuringia. In its latest financial report (31.12.2018), TLG puts the value of the property at EUR 13.4 million. The annual net cold rent thus amounts to EUR 1.7 million; the leases are still in force for an average of 3.8 years (Walt).

Catella Property acted as exclusive advisor to the seller during the transaction.

 

More information:

Claudia Kimmel
Marketing & PR Manager
Catella Property GmbH
+ 49 211 52700 217 
claudia.kimmel@catella.de  

Diane Becker
CEO
Catella Property GmbH
+49 69 310 19 30 200
diane.becker@catella.de

 

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