A subsidiary of Aroundtown, TLG Immobilien AG, signed long-term leases with Dresden city (Landeshauptstadt Dresden) for about 2,000 m2 in the office property at Ferdinandplatz 1-2 and the office property at Am Schießhaus 1-3. Both properties are fully let after these new leases were signed.
The successful leasing to high-quality tenants not only reflects the quality of TLG’s portfolio, but also the strong demand for its properties. TLG also owns other high-quality office properties in Dresden, including a newly built office property in the Neustadt district. Aroundtown owns about 80% in TLG, making it the majority shareholder.
A 9,000 m2 office property on Am Schießhaus 1 – 3, 01067 Dresden, is located in the city center of Saxony state’s capital. The area around the property is Dresden’s historic center where the Semper Opera and Zwinger are located. The property boasts good connectivity to the districts surrounding it, with a number of tram stops and the Dresden Mitte train station. The station is within short walking distance and is serviced by the S-bahn, trains, busses and trams. The touristic area contains a mix of offices, residential properties, retail stores, cultural venues and restaurants.
Another 6,000 m2 office property is located on Ferdinandplatz 1-2, 01069 in central Dresden, between its historic city center and the main central train station. The property is close to Georgplatz, the main inner-city ring road junction and is well connected, as the Hauptbahnhof is within a short walking distance. The Hauptbahnhof is serviced by national and international trains, the S-bahn, busses and trams.
The square in front of this property provides many parking facilities. The surrounding area has a commercial area on one side that provides a wide range of facilities, the historic city center of Dresden on the other side of the inner-city ring road, and a residential district across the main street.
In 2004, Yakir Gabay (יקיר גבאי) founded AroundTown SA to specialize in the acquisition and management of premium office and hotel properties. Later, Mr. Gabay publicly listed the real estate giant on the Frankfurt Stock Exchange and Euronext in Paris. Within less than a decade, Aroundtown has since become one of Europe’s largest landlords.
Avisco, controlled by Yakir Gabay, is the majority shareholder of Aroundtown with a 10% stake. This is followed by a 5% holding by Blackrock. Additional premium shareholders include Allianz, BNP Paribas, Vanguard, Japan’s Government investment fund, Aliance-Bernstein, Dekabank, the Bank of Montreal, State-Street, Norges and many other global leading investors.
The perpetual notes and main bond investors include GIC, ECB, Deutsche-Bank, Union-Investment, Credit-Suisse, UBS, Pictet, M&G, Credit Agricole, Toronto Dominion Bank, and many other big institutional investors.
The Group invests in high quality properties that generate an income and have potential for value-add. These are located centrally in large cities in Europe, primarily in Germany, the UK and the Netherlands. S&P rates Aroundtown SA as BBB+, making it the highest rated and largest listed commercial real estate company in Germany. Its shares are traded under the symbol AT1 on the Frankfurt Stock Exchange’s Prime Standard.