DGAP-News: GIEAG Immobilien AG: GIEAG sells logistics property in Erfurt to AEW Invest GmbH
DGAP-News: GIEAG Immobilien AG
/ Key word(s): Disposal/Real Estate
GIEAG Immobilien AG: GIEAG sells logistics property in Erfurt to AEW Invest GmbH
16.03.2020 / 17:09
The issuer is solely responsible for the content of this announcement.
GIEAG Immobilien AG (GIEAG), a project developer operating nationwide, has sold the logistics property "Erfurt II - Last Mile Distribution Center" to a German special fund managed by AEW Invest GmbH. The closing of the transaction will take place in March 2020. Upon completion, the new building constructed by GIEAG in 2019 was leased to Amazon Deutschland SI Transport GmbH on a long-term basis.
The logistics property at Joseph-Meyer-Strasse 5 in Erfurt is located on a 40,000 square meter site and offers 24,200 square meters of modern rental space for logistics, office and mezzanine use. In addition, the project development has a parking lot area of almost 52,000 square meters.
Philipp Pferschy, CEO of GIEAG, comments: "With the sale of 'Erfurt II', we are successfully concluding the project development in Erfurt. The modern conceptual design in the development of properties and our excellent team of experts have contributed to this success".
On the seller side, Jones LaSalle acted in an advisory capacity and the law firm Werner, Luger & Partner provided legal advice. The buyer's side was advised by the law firm Greenberg Traurig Germany LLP, TA Europe and Nova Ambiente.
About GIEAG Immobilien AG:
GIEAG is a family-run public real estate company based in Munich. Shares in GIEAG Immobilien AG are traded on the Munich Stock Exchange. The company offers a unique market stability by combining the three asset classes - office, residential and logistics - as well as the two service areas of development and portfolio management. The GIEAG team of experts is a guarantor for innovative and future-oriented concepts. Over the past 20 years, GIEAG Immobilien AG has developed and optimized a large number of real estate projects with areas of up to 145,000 square meters with a single investment sum of €15 million to €150 million. For GIEAG, partnership, transaction security, perseverance and speed form the basis of sustainable value development.
16.03.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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998425 16.03.2020