Aroundtown achieves full occupancy in office property at Gustav-Stresemann-Ring 1 in Wiesbaden with the long-term lease to the state of Hesse

Aroundtown leases further office space for 10 years to the State of Hessen in addition to the existing lease at Gustav-Stresemann-Ring 1 in Wiesbaden. The state of Hessen thus occupies more than 3,500 m² of office space in the property. With a further lease to a company in the automotive industry with over 1,000 sqm of office space, Aroundtown achieves full occupancy for the property after a vacancy rate of approximately 40% in mid-2020.

The office property, which comprises almost 12,500 m² of office space, is centrally located directly next to Wiesbaden's main central train station and therefore offers perfect connections to regional and long-distance transport, especially to the surrounding cities Frankfurt and Mainz. The four-lane Gustav Stresemann Ring is also the direct link between downtown Wiesbaden and the A 66 autobahn which connects Frankfurt and Wiesbaden.

The office property has an underground parking garage and outdoor parking spaces. The upscale furnishings and flexible floor plans enable efficient working.

Aroundtown invests in income generating quality properties that have potential for value-add in central locations mainly in Germany and the Netherlands. Avisco (controlled by Yakir Gabay) holds 10% in Aroundtown followed by Blackrock at 5%. Other shareholders include Norges, Vanguard, Allianz, BNP Paribas, Japan’s Government investment fund, Aliance-Bernstein, Dekabank, State-Street, bank of Montreal and many other leading international investors. The main bond investors include ECB, GIC, Union-Investment, DB, UBS, CS, M&G, Pictet, Credit Agricole and many other major institutional investors.