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alstria office REIT-AG: Sale of 'Kaisergalerie' by Quantum and alstria

DGAP-News: alstria office REIT-AG / Key word(s): Miscellaneous alstria office REIT-AG: Sale of 'Kaisergalerie' by Quantum and alstria 18.07.2017 / 17:40 The issuer is solely responsible for the content of this announcement. Press release

Sale of "Kaisergalerie" by Quantum and alstria

Hamburg, July 18, 2017 - alstria VI. Hamburgische Grundbesitz GmbH & Co. KG, a 49/51 percent joint venture between alstria office REIT-AG and Quantum Immobilien AG, agreed on the sale of its property "Kaisergalerie" (Grosse Bleichen 23-27, Hamburg) for a total consideration of EUR 170 million. The 18,000 sqm property is located in Hamburg's highstreet shopping district.

The "Kaisergalerie" is a historic building in the Hanseatic City of Hamburg, which was built between 1907-1909 and served as the home of the well-known Ohnsorg theatre from 1936 to 2011. alstria acquired the asset in 2006 from the City of Hamburg and entered into a joint venture with Quantum in 2010. Following the move out of the Ohnsorg theatre the building was refurbishment from 2010-2014. Through the repositioning of the building and the conversion of the theatre area into high-end retail space alstria and Quantum substantially increased the value of the historic building and further improved the attractiveness of the inner city of Hamburg.

The final closing is subject to customary condition precedents for this kind of transaction and is expected for the fourth quarter of 2017.

The seller was advised by BNP Paribas Real Estate GmbH and Jebens Mensching LLP.

Contact:


Quantum Immobilien AG

Nadine Wiencke

Dornbusch 4

20095 Hamburg

Tel: [phone]

Email: [e-mail]

alstria office REIT-AG

Ralf Dibbern, IR/PR

Bäckerbreitergang 75

20355 Hamburg

Phone: [phone]

Email: [e-mail]

More information on:
www.alstria.com