Aroundtown extends lease in office asset at Dresden’s main train station with anchor tenant for a further 10 years

Aroundtown successfully prolonged the lease agreement with the anchor tenant in office property at Dresden’s main central train station for around 8,000 sqm. The prolongation with a high-quality tenant for a long period of 10 years is reflective of Aroundtown’s asset management abilities and the strong demand for the asset.

The office asset is located in the center of Dresden, across the street from Dresden’s main central train station. The surrounding area has a mixed-use purpose of residential, retail and office. Dresden is the capital city of the Federal State of Saxony. Many of the city’s prime destinations, such as the old city center (Altstadt) and the Großer Garten, Dresden’s largest park, are within walking distance. In addition to its proximity to public transportation, the property also provides parking facilities to the tenants.

About Aroundtown

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.