Aroundtown extends office lease with the Landestalsperrenverwaltung of the State Saxony for a further 20 years

TLG IMMOBILIEN AG, a subsidiary of Aroundtown, extends office lease of 4,600 sqm with the municipality of the State Saxony (Landestalsperrenverwaltung des Freistaates Sachsen) for another 20 years in the center of Pirna with connection to Dresden

TLG IMMOBILIEN AG (TLG), a subsidiary of Aroundtown, secured its tenant, the municipality of the Free State of Saxony (Landestalsperrenverwaltung) as a single tenant for its office property at Bahnhofsstraße 14 in Pirna for a further 20 years. At the same time, the Free State is expanding its space by approx. 320 m², thus leasing a total of approx. 4.600 sqm. TLG has once again succeeded in meeting tailor-made customer requirements with the contract extension with a tenant from the public sector. Aroundtown is the main shareholder of TLG and holds approx. 80% of the shares.

The office building is an established address in an excellent location at the main central train station in the district town of Pirna, which has a population of just under 40,000. The property is located directly next to the main train station and vis á vis the public transport hub Pirna ZOB. The town hall as well as the most important inner-city shopping streets are all within a few minutes walking distance. The office building consists of three parts, each with spacious roof terraces. There are numerous parking spaces directly at the property and in the neighboring parking lot, both for Landestalsperrenverwaltung employees and for visitor and customer traffic.

About TLG and Aroundtown

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 bond investors include ECB, GIC, Union Investment, DB, UBS, CS, M&G, Pictet, Credit Agricole and many other major institutional investors.