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PREOS Global Office Real Estate & Technology AG signs 5-year lease extension with The Max Planck Institute for 'Westend Carree' in Frankfurt

DGAP-News: PREOS Global Office Real Estate & Technology AG / Key word(s): Real Estate PREOS Global Office Real Estate & Technology AG signs 5-year lease extension with The Max Planck Institute for 'Westend Carree' in Frankfurt 11.02.2021 / 08:22 The issuer is solely responsible for the content of this announcement. PREOS Global Office Real Estate & Technology AG signs 5-year lease extension with The Max Planck Institute for "Westend Carree" in Frankfurt

Leipzig, 11 February 2021 - PREOS Global Office Real Estate & Technology AG ("PREOS", ISIN DE000A2LQ850) signs 5-year lease extension with The Max Planck Institute for "Westend Carree" in Frankfurt's up-market Westend district an ultra-modern office complex, generating a cumulative rental value for the Company of approx 7 million Euros on over 30,000m2 (330,000 sq. ft)

Earlier in February this year, PREOS closed a 5-year lease extension with the internationally acclaimed research institute and core tenant, the Max Planck Institute, for part of the Company's "Westend Carree" premises.

PREOS acquired Westend Carree in January 2020. With an immediate drive to improve and secure long-term occupancy PREOS successfully signed international software developer, Gunzilla in late Summer 2020, following up now with the successful Max Planck signing. PREOS' proven ability swiftly to provide tenant-desired fit-out helped seal both these exciting acquisitions.

Westend Carree is a high profile major multi-tenant asset in the Frankfurt market, located in the heart of the city, in the upmarket Westend district. It was built from 1987 to 1989 and extensively renovated in 2009 and 2010. The striking building with its glass and natural stone façade and landscaped courtyards consists of three building sections, each with six to eight storeys, and offers a flexible division of space. It has an underground car park and three separate entrance areas, each with its own lobby and 13 elevators. Further enhancements are being made to Westend Carree's already high-end spec, to secure its leading position within Frankfurt's vibrant commercial real estate market, targeting the highest environmental and digital standards.