TLG Immobilien AG, a subsidiary of Aroundtown, successfully signs long-term contracts with the city of Dresden in two office properties situated in Dresden city center

TLG Immobilien AG, a subsidiary of Aroundtown, closed long-term leases with the city of Dresden (Landeshauptstadt Dresden) for around 2,000 sqm in the office property located at Am Schießhaus 1-3 and in the office property at Ferdinandplatz 1-2. Following the signing of the new leases, both properties are fully let.

The successful signing of the leases with high-quality tenants reflects not only the strong demand for TLG’s properties but also the quality of the portfolio. TLG has high-quality office properties in Dresden. Aroundtown owns ca. 80% in TLG and is accordingly the major shareholder.

The 9k sqm office property on Am Schießhaus 1-3, 01067 Dresden, is located in the prime city center of the capital of the German state of Saxony. The area surrounding the property is the historic center of Dresden where the Zwinger and the Semper Opera are located. The property benefits from good connectivity to the surrounding districts, with several tram stops as well as a train station, Dresden Mitte, which is serviced by local trains, S-bahn, trams and busses, in short walking distance. The touristic area is a mixed use of office, residential, retail, restaurants and cultural venues.

The 6k sqm office property on Ferdinandplatz 1-2, 01069 Dresden, is situated in central Dresden between Dresden’s main central train station and its historic city center. The property is located at Georgplatz, the main junction of the inner-city ring road. The property is well connected, as the Hauptbahnhof, which is a short walking distance, is serviced by international trains as well as national trains, S-bahn, trams and busses. The square in front of the property serves as a large parking area providing numerous parking facilities. The surrounding area has a mixed use of commercial on one side, which provide a wide range of amenities, a primarily residential district across the main street, and Dresden’s historic city center on the other side of the inner-city ring road.

TLG is controlled by Aroundtown SA. The Group 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 bonds and perpetual notes investors include ECB (European Central Bank), GIC (Singapore), Swiss National Bank, Union-Investment, DWS (Deutsche Bank), UBS, Credit-Suiss, M&G, Pictet, Credit Agricole and many other major institutional investors.