DGAP-News: GIEAG Immobilien AG enjoys further major letting success in the 'KWARTIER' district development in Karlsruhe

GIEAG Immobilien AG enjoys further major letting success in the "KWARTIER" district development in Karlsruhe

- Bundesanstalt für Immobilienaufgaben rents complete administration building with approx. 8,500 m² usable floor space for 15 years

- Revitalisation measures for the administration building already started; handover to tenants planned for July 2020

- Plans for the construction of 250 new apartments on the district development site are making progress

Stuttgart/Munich, 19.02.2019 - The family-run Munich-based real estate company GIEAG Immobilien AG (GIEAG) has recorded a further key letting success for its "KWARTIER" district development in the south of Karlsruhe. The Bundesanstalt für Immobilienaufgaben (BImA) has been acquired as a long-term tenant for the entire administration building with a total of around 8,500 square metres of usable space. The rental agreement with BlmA runs for 15 years. The demolition and revitalization of the currently vacant property has now begun. It is planned to hand the property over to the tenant on 1 July 2020.

The administration building is part of the real estate complex "KWARTIER" (http://kwartier-karlsruhe.de/) on Philipp Reis Straße/Rüppurrer Straße in Karlsruhe. The approximately 19,500 square meter site also houses a so-called "technical building" with approximately 22,000 square meters of space, which was leased to a telecommunications company on a long-term basis as early as 2018 following the completion of extensive renovation work. In addition, there is a large open space on the site, which has been designated for the construction of a total of approx. 250 freehold and rental apartments. Plans for the new construction of the apartments are already at an advanced stage.

Thomas Männel, a member of GIEAG Immobilien AG's managing board: "The conclusion of a long-term lease agreement for the entire administration building is another milestone in the development of our quarter in Karlsruhe's Südstadt district. As part of the extensive revitalisation measures, the building will be given a modern façade and will thus also set urban accents. With regard to the planned construction of freehold and rental apartments, we are very pleased with the strong interest and high demand, even before the start of marketing."

GIEAG Immobilien AG:

GIEAG is a family-run, Munich-based, public limited real estate company. Shares of GIEAG Immobilien AG are traded on the Munich stock exchange. The combination of three asset classes - office, residential and logistics - and its two areas of activities - development and investment - means that the company has a stability that is unique on the market. GIEAG's team of experts guarantees innovative and future-proof concepts.

During the past 19 years GIEAG Immobilien AG has developed and optimised a large number of real estate projects ranging in size up to 145,000 m² and with individual investment amounts of EUR 10 to EUR 120 million. A partner-like approach, secure transactions and speed for the basis of GIEAG's sustainable value growth.

Contact

GIEAG Immobilien AG
Investor Relations, Philipp Pferschy
Oettingenstraße 35
80538 Munich
ir@gieag.de
Telephone: +49 89 290516-0