EQS-News: DEMIRE lets around 1,900 m² to FrontWell in Bad Vilbel

DEMIRE lets around 1,900 m² to FrontWell in Bad Vilbel

Langen, 18 September 2024. DEMIRE Deutsche Mittelstand Real Estate AG (ISIN: DE000A0XFSF0) has let around 1,900 m² of space in Bad Vilbel to FrontWell Solutions. The lease was concluded for five years. FrontWell Solutions is a globally operating consulting firm providing manufacturing digitalization services and IT projects.

The property in Bad Vilbel has a total rental area of 27,600 m² and is characterised by good accessibility by public transport as well as via the B3 federal road. The main tenants are Landesbetrieb Bau und Immobilien, Bad Homburger Inkasso and the printer and multifunctional device manufacturer Brother. Thomas Hildebrandt, the responsible senior asset manager, comments: ‘We purchased the property in Bad Vilbel in 2019 with a high vacancy rate. Now, with the letting to FrontWell Solutions, it is almost fully let and subsequent lettings in the event of fluctuation can be realised promptly. We have thus successfully developed the property into a multi-tenant property and anchor property for DEMIRE in the Rhine-Main region.’

End of Press Release

About DEMIRE Deutsche Mittelstand Real Estate AG

Deutsche Mittelstand Real Estate AG acquires and holds commercial real estate in mid-sized cities and up-and-coming locations bordering metropolitan areas across Germany. The Company's particular strength lies in realising the potential of the properties at these locations while focusing on a range of properties that appeals to both regional and international tenants. As of 30 September 2023, DEMIRE's portfolio comprises 60 assets with a lettable space of approx. 860 thousand sqm. Including the proportionately acquired Cielo property in Frankfurt/Main, the market value amounts to approximately EUR 1.4 billion as of 30 September 2023.

The portfolio's focus is on office properties with a blend of retail and hotel properties resulting in a return / risk structure that is appropriate for the commercial real estate segment. The Company places importance on long-term contracts with solvent tenants and the realisation of the properties' potential. DEMIRE anticipates continued stable and sustainable rental income along with solid value appreciation.

DEMIRE aims to expand its portfolio significantly in the medium term. The company focuses on assets contributing strongly to the FFO and properties with the potential for additional value creation. Properties that are not in line with this strategy will be sold. DEMIRE is being further developed operationally and procedurally with numerous measures. The company plans to enhance its operating performance through cost discipline as well as an active asset and portfolio management approach.

DEMIRE Deutsche Mittelstand Real Estate AG AG (ISIN: DE000A0XFSF0) shares are listed in the Regulated Market (Prime Standard segment) of the Frankfurt Stock Exchange.