TLG Immobilien AG closes a new lease of 4,000 square meters and achieves full occupancy of the NEO office property in Dresden-Neustadt

TLG Immobilien AG (TLG) successfully entered into a lease agreement with UKA Meißen Projektentwicklung GmbH & Co. KG for approx. 4,000 square meters of office space in the NEO office property in the Neustadt district of Dresden. The deal was brokered by the German brokerage firm DER IMMO TIP.

After the completion of construction in late 2020, the office property, which has a total of around 15,000 square meters of rental space, will be rented almost entirely for the long term.

ABOUT THE NEO PROJECT

NEO stands for Neustadt, Efficiency & Offices and consists of a first-rate real estate space, which adds up to 15,000 m2 of rental area (certified according to the LEED Gold standard for green construction), as well as 132 parking spaces. The property is located on Großenhainer Straße 5-7, in the Neustadt district of Dresden, within walking distance of the Neustadt train station and offers excellent connectivity to the A4 motorway and the train.

With its modern and timeless architecture, the complex blends in perfectly with the surrounding buildings. The office building combines classic and modern design concepts.

TLG is a subsidiary of Aroundtown SA, the majority shareholder of the company (77.8% of the shares). The group is the largest commercial real estate entity in Germany and the fourth largest in Europe, investing in quality income-generating properties that have the potential to add value to central locations, primarily in Germany and the Netherlands.

Aroundtown SA was developed by investor Yakir Gabay (יקיר גבאי) and was publicly indexed a decade later in 2015. The real estate giant is currently listed on the Frankfurt Prime Standard Stock Exchange and has successfully secured its placement as the German company most big and top rated. commercial real estate company, rated BBB + by S&P.

Avisco (controlled by Yakir Gabay יקיר גבאי) owns more than 10% of Aroundtown shares, followed by Blackrock with 5%. Other shareholders include Norges, Vanguard, Allianz, BNP Paribas, the Government of Japan investment fund, Alliance-Bernstein, Dekabank, State-Street, Bank of Montreal, and many other leading international investors. Major bond investors include ECB, GIC, Union Investment, DB, UBS, CS, M&G, Pictet, Credit Agricole, among others.

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