Press Release


alstria acquires office properties in Frankfurt and Dusseldorf 

Hamburg, January 11, 2021 – alstria office REIT-AG (symbol: AOX, ISIN: DE000A0LD2U1) announces the acquisition in two independent transactions of two office properties in core locations of Düsseldorf and Frankfurt. 

The office building in Düsseldorf, located at Corneliusstraße 36 comprises a lettable area of 3,100 square meters. The property was acquired from its previous corporate owner for an all-in cost of EUR 7.8 million (EUR 2,500 per sqm). It delivers an annual rental income of EUR 0.2 million (EUR 5.55 per sqm/month) and is fully rented on a short-term lease basis to its previous owner. Transfer of ownership was at the end of 2020.

The office property in Frankfurt (Hanauer Landstraße 161-173) in the up-and-coming neighbourhood of the Frankfurt Eastend and in the immediate vicinity to the new ECB tower. It has a lettable area of 10,500 square meters and was acquired at an all-in cost of EUR 32.6 million (EUR 3,100 per sqm) from a group of private investors. The current annual rental income is EUR 0.6 million (EUR 10.50 per sqm/month). The property is currently 55% vacant and in need of short-term refurbishment to be able to deliver its full potential. The transaction is expected to close in Q1 2021. 

“These two acquisitions, which reflect attractive capital value and low in place rent, highlight our acquisition discipline and strong transaction expertise in ongoing tight market conditions. Both properties offer substantial opportunities to be refurbished and repositioned, leveraging alstria’s, proven core competencies”, says Olivier Elamine, Chief Executive Officer of alstria.

alstria office REIT-AG
Steinstrasse 7                                      
20095 Hamburg, Germany  

IR Contact                                    
Julius Stinauer                      
+49 40 22 63 41-344                   
[email protected]

Press Contact
Philip Angrabeit                                   
+49 40 22 63 41-310          

Further information





About alstria:

alstria office REIT AG is the leading real-estate operator focusing solely on German office property in selected German markets. Our strategy is based on the ownership and an active management of our properties throughout their entire life cycle, strong added-value services to our customers and deep knowledge of the markets in which we operate. alstria strives for sustainable long-term value creation while taking advantage of short-term arbitrage of inefficiencies in the real estate markets. As of September 30, 2020, the portfolio comprises 110 buildings with a lettable area of 1.4 million square meters and a total portfolio value of EUR 4.4 billion.  

This release constitutes neither an offer to sell nor a solicitation of an offer to buy any shares. As far as this press release contains forward-looking statements with respect to the business, financial condition and results of operations of alstria office REIT-AG (alstria), these statements are based on current expectations or beliefs of alstria’s management. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or performance of the Company to differ materially from those reflected in such forward-looking statements. Apart from other factors not mentioned here, differences could occur as a result of changes in the overall economic situation and the competitive environment – especially in the core business segments and markets of alstria. Also, the development of the financial markets and changes in national as well as international provisions particularly in the field of tax legislation and financial reporting standards could have an effect. Terrorist attacks and their consequences could increase the likelihood and the extent of differences. 

The current COVID-19 outbreak is creating substantial uncertainty in the marketplace. Although alstria has diligently reviewed the information contained in this release it is based on its own analysis and estimate, as well as available public sources and not on active discussion with tenants. As such the current liquidity risk of the tenants can materially differ from alstria’s own estimate, and the actual impact of the COVID 19 outbreak may differ substantially from the current previsions.

alstria undertakes no obligation to publicly release any revisions or updates to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Copyright © 2021 alstria office REIT-AG, All rights reserved.

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