IVG: Successful letting performance
26.11.2009
Despite the difficult situation prevailing in the real estate markets, IVG can report a successful letting performance.
In Hamburg, IVG concluded two major lease agreements
The first is a 10-year extension of a lease agreement with an oil company for 25,000 square metres in the Pentahof building, Suhrenkamp 71-77. The tenant was advised exclusively by CB Richard Ellis and IVG by the Hamburg office of DTZ. At a stand-alone location in Eppendorf (Christoph-Probst-Weg 26-31), IVG also extended an agreement for 6,418 square metres and signed a new agreement for 3,188 square metres of office space. The tenant was advised by Strabag PFS.
Christoph-Probst-Weg 26-31, Hamburg.
In Warsaw, IVG concluded a lease agreement for 2,320 square metres
Noble Bank Spółka Akcyjna has signed this agreement to expand its office space. At the end of the year, the bank will move into IVG’s Horizon Plaza, just a few minutes by car from the Okęcie Airport. Previously, Noble Bank Spółka Akcyjna had already rented 3,000 square metres; it has now signed an agreement for another 2,320 square metres. IVG’s office property, which consists of an 11-storey and a 7-storey building, is one of the country’s most modern buildings. It was opened in June and has since reached an occupancy rate of 83 percent.
Horizon Plaza, Warsaw.
In Paris, IVG concluded a lease agreement for 2,173 square metres
The property involved is an office building of IVG at a prime location (7 Place Vendôme).
Place Vendôme, Paris.
At Germany’s top five office locations, IVG has reduced its vacancy rate this year; this applies in particular to Frankfurt and Hamburg. For its entire portfolio of own properties and funds, IVG has concluded agreements for a total of approx. 480,000 square metres this year. Project developments in Germany and abroad accounted for approx. 85,000 square metres of this total volume; as a result, the occupancy rate in the new buildings has increased from below 50 per cent at the beginning of the year to nearly 65 per cent today. In the course of this year, IVG has maintained the vacancy rate in its own portfolio at a nearly stable level.
IVG Immobilien AG
IVG Immobilien AG is one of the major real estate companies in Europe. With approx. 700 employees, the company manages assets worth € 22.6 billion at 19 locations. Via its network of local branches in major German and European cities, IVG manages, inter alia, properties in its own portfolio with a market value of € 4.9 billion. In addition, it builds and operates underground caverns for the storage of oil and gas in northern Germany. In the funds segment, IVG is the market leader in specialised real estate funds for institutional investors. Including the closed-end real estate funds for private investors, IVG manages funds and mandates worth a total of € 15.6 billion.
Press contact
Jens Friedemann
Tel +49 (0)228 844-133
Fax +49 (0)228 844-338
jens.friedemann@ivg.de
