GORE German Office Real Estate AG: GORE: Commercial property successfully sold in Grafing near Munich

DGAP-News: GORE German Office Real Estate AG / Key word(s): Real Estate/Miscellaneous
02.06.2021 / 09:36
The issuer is solely responsible for the content of this announcement.

GORE: Commercial property successfully sold in Grafing near Munich

Frankfurt/Main, 02 June 2021 - GORE German Office Real Estate AG ("GORE"; ISIN DE000A0Z26C8) has successfully sold a commercial property in Grafing. The property covering more than 4,000 square metres is located in the economically strong surroundings of Munich, which is about 30 kilometres from the Bavarian capital. The entire property is let to Nuvisan, an internationally active research institute.

The parties have agreed not to disclose the buyer or the purchase price. The transaction involves publity AG ("publity"; ISIN DE0006972508) in its capacity as asset manager for GORE and Neopolis Advisory from Berlin. publity acquired the commercial property in 2018 and has developed it continuously since then: In November 2020, Nuvisan had extended the tenancy agreement until 2035.

Jörg Reinhardt, CEO of GORE: "The sale of the commercial property in Grafing underpins
our successful business model, which, among other things, is the sale of attractive properties with yield potential. We also benefited from the know-how of our proven partner publity in this transaction."

Frank Schneider, Chief Executive Officer at publity: "Despite the Corona pandemic, we managed to successfully develop the property in Grafing. Among other things, we optimised the tenancy agreement and extended the contract of the main tenant Nuvisan for another 15 years. The successful sale to a suitable buyer shows how strong our network is, especially in a challenging environment."

Press Contact:

edicto GmbH
Axel Mühlhaus
Eschersheimer Landstraße 42
60322 Frankfurt am Main
Phone +49(0) 69/905505-52
Mail publity@edicto.de

About GORE
The GORE German Office Real Estate AG ("GORE") is a dynamically growing real estate investor with a focus on office properties in German conurbations. Using a manage-to-core approach, GORE acquires properties in preferred locations at below market value wherever possible in order to sustainably enhance their value. Investment activities focus on properties with a market value of between EUR 1 and 15 million. Compared to other property sizes, this size class offers a less competitive market environment in terms of purchasing according to GORE estimates. GORE's aim is to generate above-average value enhancement and return potential along the entire value chain, from acquisition through management to sale, together with its partners. The volume of the real estate portfolio is expected to be multiplied by acquisitions in the coming years.


02.06.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

show this