DGAP-Adhoc: GIEAG Immobilien AG: GIEAG sells logistics property in Erfurt to an institutional investor for 53.9 Mio. Euro

DGAP-Ad-hoc: GIEAG Immobilien AG / Key word(s): Disposal/Real Estate
GIEAG Immobilien AG: GIEAG sells logistics property in Erfurt to an institutional investor for 53.9 Mio. Euro

02-Jul-2018 / 17:20 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
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This logistics property which has now been sold was built by GIEAG in 2010 and is located on the Internationales Logistikzentrum (ILZ) site in Erfurt. The property has an excellent traffic infrastructure thanks to its direct connection to the A71 motorway. The property has total usable space of almost 67,000 square meters and is broken down into 60,200 square meters of logistics space as well as additional mezzanine and office space and car parking. GIEAG Immobilien AG (GIEAG) concluded a long-term rental agreement at the start of 2018 for a total space of 55,000 square meters with LGI Logistics Group International GmbH (LGI).

Philipp Pferschy, a member of GIEAG's managing board, commented: 'We are very pleased with the profitable sale of our logistics property in Erfurt. This once again underscores our expertise in creating state-of-the-art commercial properties. The fact that we have now been able to leverage the increase in this property's value on the market is another major success for us. The property's quality, the long-term rental of more than 80 percent of its total space to a top quality tenant and, of course, the excellent location all had a positive impact.'

Jones Lang LaSalle and GSK STOCKMANN advised the seller.

About GIEAG Immobilien AG (GIEAG)

GIEAG is a family-run Munich based, public limited real estate company. Shares of GIEAG Immobilien AG are traded on the Munich stock exchange. GIEAG's team of experts guarantees innovative and future-proof concepts. The combination of three asset classes - office, residential and logistics - and its two areas of activities - development and investment - means that the company has a stability that is unique on the market. During the past 18 years GIEAG Immobilien AG has developed and optimised a large number of real estate projects ranging in size from between 1,500 m² to 145,000 m² and with individual investment amounts of up to EUR 100 million. A partner-like approach, consistency, secure transactions and speed form the basis of GIEAG's sustainable value growth.

Contact

GIEAG Immobilien AG
Investor Relations, Philipp Pferschy
Oettingenstraße 35
80538 Munich
ir@gieag.de
Telephone: +49 89 290516-0

edicto GmbH
Axel Mühlhaus, Peggy Kropmanns
amuehlhaus@edicto.de
Tel.: +49 69 905505-52

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