Investegate |PREOS Global Office Real Estat Announcements | PREOS Global Office Real Estat: PREOS sells Frankfurt s WestendCarree to French Ardian
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PREOS Group Purchased Commercial Property in Essen, North Rhine Germany in 2019 Below Market Then Closed Sale to Signa Group in 2020 for 25% Net Profit
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LEIPZIG, GERMANY / ACCESSWIRE / February 5, 2021 / PREOS Global Office Real Estate & Technology AG (FRA:PAG)(XETRA:PAG).
Frederik Mehlitz, CEO of PREOS The Essen transaction is a showcase deal for how we add value to our shareholders. Our deep-data based analytics allows us to identify hidden value faster than traditional approaches and we are experienced acquisition specialists. This asset sale highlights the strength of the PREOS Group: sourcing attractive assets at favorable terms, driving the value of such assets as asset manager and ultimately achieving a profitable exit. Our TA2 commercial property in Essen is an excellent example: In mid-2019, PREOS acquired the asset below market. The Company immediately launched an asset management program investing approximately 80 MILLION EUROS with the goal of reducing the property s full vacancy, and further to enhance its value for resale. PREOS substantially leased up the property in less than one year-anchor tenants now incl