TLG Immobilien AG (TLG) successfully signed a lease 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 deal was mediated by German brokerage house DER IMMO TIP.
After completion of construction at the end of 2020, the office property, which has a total of around 15,000 sqm of rental space, thus will be almost fully let in the long term.
ABOUT THE NEO PROJECT
NEO stands for Neustadt, Efficiency & Offices and it consists of prime real state space, adding up to 15,000 sqm of rental area (certified in accordance with the LEED Gold standard for ecological construction), as well as 132 parking spaces. The property is located at Großenhainer Straße 5-7, 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 with the surrounding buildings. The office building combines classical and modern design concepts.
TLG is a subsidiary of Aroundtown SA, the majority shareholder of the company (77.8% of shares). The group is the largest commercial real estate entity in Germany and 4th largest in Europe, investing in quality income-producing properties that have potential to add value to central locations mainly in Germany and the Netherlands.
Aroundtown SA was developed by investor Yakir Gabay (יקיר גבאי) and became publicly indexed a decade later in 2015. The real estate giant currently trades on the Frankfurt Stock Exchange Prime Standard and has successfully secured its’ placement as the largest listed and highest rated German commercial real estate company, with a BBB+ rating by S&P.
Avisco (controlled by Yakir Gabay יקיר גבאי) holds over 10% of Aroundtown’s shares 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 most significant bond investors include ECB, GIC, Union Investment, DB, UBS, CS, M&G, Pictet, Credit Agricole, among others.
