TAG Immobilien AG sells office building to Fiduciary Capital GmbH

TAG Immobilien AG / Key word(s): Disposal

06.09.2013 / 09:21


TAG Immobilien AG sells office building to Fiduciary Capital GmbH

Hamburg, 6 September 2013 - TAG Immobilien AG ('TAG' in the following) today announced a sale of an office building in Munich-Obersendling with total floor space of approximately 30,000 sqm to Fiduciary Capital GmbH.

The property is located in Gmund Street (corner of Hofmannstrasse) in the southern Obersendling district of Munich, near the Mittlerer Ring (middle ring road). The object has been systematically emptied in recent years in preparation for repurposing. Fiduciary Capital GmbH, a Munich-Grünwald based company (www.fiduciarycapital.de) focused on the Munich metropolitan region, is pursuing the repurposing and development of the entire area, to be completed by the end of 2014. The purchase price was not disclosed.

Rolf Elgeti, CEO of TAG Immobilien AG, comments on the sale: 'TAG is focused on long-term ownership of residential properties. We are therefore using selected sales to reduce our commercial portfolio and open the properties to development. We are pleased to have found an experienced partner in Fiduciary Capital, who will develop the area long-term and give it new purpose.'

Press enquiries:
TAG Immobilien AG
Head of Investor & Public Relations
Dominique Mann
Phone +49 (0) 40 380 32 300
Fax +49 (0) 40 380 32 390

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Company:TAG Immobilien AG
Steckelhörn 5
20457 Hamburg
Phone:040 380 32 0
Fax:040 380 32 390
ISIN:DE0008303504, XS0954227210
WKN:830350, A1TNFU
Listed:Regulierter Markt in Frankfurt (Prime Standard), München; Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, Stuttgart
End of NewsDGAP News-Service

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