Colonia Real Estate AG / Miscellaneous
04.06.2008
Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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CRE Resolution with overproportional letting activity in the first five
months
83,000 square metres of commercial and residential letting
Expansion of third party asset management on residential portfolios
Berlin, 04 June 2008 - CRE Resolution GmbH, a subsidiary of the listed
Colonia Real Estate AG (ISIN: DE0006338007), continuously expanded its
successful letting activities in the commercial and residential field in
the first five months of 2008. Both, the furthermore positive economy in
Germany and the sustainable establishment of CRE stimulated the demand.
This resulted in the letting of approximately 30,200 square metre of office
space for customers in the field of asset management and 53,000 square
metre of residential space with a total of some 875 rental agreements for
the stock of Colonia Real Estate AG. The properties are located throughout
Germany.
The two largest contracts concluded are the letting of approximately 7,500
square metre to a major German bank in the Signaris office building in
Frankfurt and 6,400 square metre to a clinic operator in Ismaning, near
Munich. In the familiar Dischhaus located in Cologne city centre CRE
Resolution succeeded in letting approximately 1,400 square metre to a
well-known advertising agency. In the City-Hochhaus Leipzig CRE Resolution
GmbH managed to let approximately 820 square metre. Further letting also
occurred in Neusswith 1,500 sq uare metre, and 2,000 square metre in the
Pelikanviertel in Hanover. Two new tenants were acquired for Galerie
Lafayette in Berlin with approximately 1,000 square metre.In addition,
numerous existing commercial rental agreements with a volume of
approximately 23,500 square metre could be extended.
Furthermore, Resolution was able to expand its strategic asset asset
management into the residential field with an acquisition of a EUR 103mn
residential portfolio together with Merrill Lynch earlier this week. Thus,
the company is taking the next step to meet the requirements of its
customers. The German market offers strong potential in the nationwide
commercial and residential sector which as of today is only covered by a
few professional asset managers like CRE Resolution.
About CRE Resolution
CRE Resolution GmbH specialises in the asset management of supra-regional
property portfolios for private and institutional investors from Germany
and abroad. Based in Berlin and with branches in Frankfurt, Hamburg,
Cologne, Munich and Stuttgart, CRE Resolution enjoys a presence in all of
the most significant German property locations. Majority shareholder, with
over 75 %, is the listed company Colonia Real Estate AG.
Press contact
Axel Mühlhaus Julie Wenkel
edicto GmbH Colonia Real Estate AG
Telefon (069) 90550552 Telefon (0221)7160 710
amuehlhaus@edicto.de pr@cre.ag icto.de pr@cre.ag
DGAP 04.06.2008
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Language: English
Issuer: Colonia Real Estate AG
Zeppelinstr. 4 - 8
50667 Köln
Deutschland
Phone: +49 221-716071-0
Fax: +49 221-716071-99
E-mail: info@cre.ag
Internet: www.cre.ag
ISIN: DE0006338007
WKN: 633800
Indices: SDAX, GPR 250, MSCI Germany Small Cap Index, FTSE EPRA/
NAREIT, E&G DIMAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Hannover, München, Hamburg, Düsseldorf, Stuttgart
End of News DGAP News-Service
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DGAP-News: CRE Resolution with overproportional letting activity in the first five months
| Source: EQS Group AG