DGAP-News: Godewind Immobilien AG / Key word(s): Contract/Real Estate
02.09.2019 / 07:35
Another leasing success for Godewind Immobilien AG in the Y2 in Frankfurt
Frankfurt am Main, 2 September 2019 – Godewind Immobilien AG (ISIN: DE000A2G8XX3, ticker symbol: GWD, Godewind), a company specialising in German office properties, reports another new lease agreement shortly after the announcement of the last significant leasing successes.
Just after the early lease extension in the Y2 office complex in the Merton district of Frankfurt which was reported a few days ago, Godewind has signed a new tenancy agreement with a specialist publisher for labor and social law for office space of 1,526 m2 and storage space of 319 m2. The tenancy agreement with a lease term of ten years begins on 1 April 2020. This will raise the contracted annual net cold rent for the building by more than 26 percent, or around EUR 0.7 million, to EUR 3.4 million since it was closed in February of this year. The office vacancy rate in the Y2 will decrease from 28 percent to less than 23 percent. The rental agreements now have a weighted average lease term (WALT) of 11.5 years. This new lease agreement will further improve the portfolio key performance indicators.
Since acquisition, Godewind has reduced the portfolio vacancy significantly, bringing it down to currently 12.5 percent. This strategic acquired vacant space continues to offer outstanding growth potential and means the EPRA net asset value (NAV) is expected to rise still further in the medium term. Godewind’s recent leasing success is another milestone in this respect and again proves the attractiveness of the company’s value add/manage-2-core strategy.
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About Godewind Immobilien AG
Based on internal portfolio and asset management, Godewind Immobilien AG will manage commercial properties cost effectively, conclude long-term tenancy agreements and thus increase the value of the company. The company has loss carryforwards for corporation and trade tax and a tax deposit account. The Godewind Immobilien AG share is traded in the Prime Standard segment of the Frankfurt Stock Exchange (RWB). For further information please visit https://www.covivio-office-ag.com.
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|Company:||Godewind Immobilien AG|
|60329 Frankfurt am Main|
|Phone:||+49 (0) 69 2713973213|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||866549|
|End of News||DGAP News Service|