DGAP-News: PREOS Global Office Real Estate & Technology AG / Key word(s): Disposal/Real Estate
PREOS Global Office Real Estate & Technology AG again drives growth with 36.5% profit on sale of a 25,808 m² (277,795 sq. ft) multi-tenant commercial property with a net rental area approx. 6,150 m² (66,198 sq. ft) in Waltrop
Leipzig, 16 February 2021 - PREOS Global Office Real Estate & Technology AG ("PREOS", ISIN DE000A2LQ850) this month, PREOS successfully closed the sale of a large commercial asset in Waltrop in Germany's Ruhr region - Germany's largest (and Europe's sixth largest) aggregate network of urban communities with a population of approx. 5.1 million.
Despite risk-averse cautionary market conditions including COVID 19 disruption -in approx. 24 months since acquisition - the turnaround asset management model and execution skill set at PREOS delivered a high-value exit.
With spectacular acumen and precision, the PREOS asset management team successfully inked a 15-year lease extension with the building's main tenant Nuvisan GmbH. Nuvisan GmbH is one of the largest pharmaceutical companies in Germany. Nuvisan provides pharmaceutical analysis for all molecules and antibodies and drug delivery formulation, works with Big Pharma customers and has further facilities in France. Besides Nuvisan, the tenant roster includes other well-known German companies such as Pharbil Waltrop GmbH, O+S Distelkamp GmbH and Chemische Werke Hommel.
The PREOS-Nuvisan GmbH transaction is regarded by market observers as further proof of PREOS's excellence in strategy and execution at every stage of the value creation cycle: asset sourcing, tenancy/structural optimization and smooth and well-timed exit.
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About PREOS Global Office Real Estate & Technology AG
PREOS Real Estate & Technology AG ("PREOS") is an active real estate investor focused on office properties. PREOS acts as an efficient management holding company. The acquisition focuses on office properties with development potential in German metropolitan regions. Value creation is generated by targeted asset management measures. Developed portfolio properties are sold in the event of adequate sales opportunities. The corporate strategy is to significantly expand the real estate portfolio through acquisitions in the coming years. The PREOS share (ISIN DE000A2LQ850) is listed in the over-the-counter segment m:access of the Munich Stock Exchange (PAG.MU) and on Xetra (PAG.DE). The company headquarters of PREOS is located in Leipzig.
16.02.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
PREOS Global Office Real Estate & Technology AG
Regulated Unofficial Market in Frankfurt, Munich
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