TLG IMMOBILIEN AG, a subsidiary of Aroundtown SA, achieves full occupancy for "NEO" office property in Dresden-Neustadt with a lease agreement for approx. 4,000 sqm

TLG Immobilien AG (TLG), a subsidiary of Aroundtown SA, successfully concluded a lease agreement with UKA Meißen Projektentwicklung GmbH & Co. KG for approx. 4,000 sqm of office space in the NEO office property in Dresden's Neustadt district. The brokerage house DER IMMO TIP acted as intermediary. After completion of construction at the end of 2020, the office property NEO, which has a total of around 15,000 sqm of rental space, thus will be almost fully let in the long term.

TLG is currently building another office and commercial building in a very central location in the state capital. The approx. 25,000 sqm 'Annenhöfe' will be completed by the end of 2022. After successful lettings in the project and further promising negotiations, very good chances of full occupancy of the office space are seen in view of the strength of the Dresden office market. As the Dresden office market had a historic low in office vacancies, the office space in the 'Annenhöfe' newly created by TLG will bring a further supply of modern office space in a prestigious location.

NEO stands for Neustadt, Efficiency & Offices in an excellent location. A total of around 15,000 sqm of lettable space has been created, certified in accordance with the LEED Gold standard for ecological construction, as well as 132 parking spaces. The office property at Großenhainer Straße 5-7, 01097 Dresden, is located in Dresden's Neustadt district within walking distance of Neustadt train station and provides excellent connectivity to the A4 highway and train.

With its modern and timeless architecture, the ensemble fits perfectly into the surrounding buildings. The office building offers all classical but also modern office concepts.

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.