DGAP-News: Prime Office REIT-AG sells the 'SZ-Tower' and

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Nov 21, 2013 at 1:45 AM

DGAP-News: Prime Office REIT-AG sells the 'SZ-Tower' and strengthens its equity ratio

DGAP-News: Prime Office REIT-AG / Key word(s): Disposal/Real Estate Prime Office REIT-AG sells the 'SZ-Tower' and strengthens its equity ratio 21.11.2013 / 07:39 --------------------------------------------------------------------- Prime Office sells the 'SZ-Tower' and strengthens its equity ratio - Headquarters of publishing company SÃ¼ddeutscher Verlag ('SZ-Tower') in Munich sold for 164.1 million Euro - Sale strengthens equity and reduces leverage sustainably Munich, 21 November 2013. Prime Office REIT-AG ('Prime Office') has sold the headquarters of publishing company SÃ¼ddeutscher Verlag - the so called 'SZ-Tower' - in Munich to an international investment consortium for 164.1 million Euro. The contract, which was notarised on 20 November 2013, provides for the closing of the transaction by the end of December 2013. The disposal significantly improves the equity ratio of Prime Office from 39.8% as at 30 September 2013 to almost 50% while at the same time sustainably reducing its leverage. The disposal marks a key milestone for the company in the financial year 2013. In the second half of 2013, Prime Office had announced the finalisation of key contracts: one with Daimler AG for a lease in the property in Stuttgart/MÃ¶hringen, which is now fully rented, and one on the disposal of 'BMW's design centre' in Munich. 'With the sale of the 'SZ-Tower' we meet a material criterion of the business combination agreement with OCM German Real Estate Holding AG and take a further scheduled step towards the merger. At the same time, we clearly reach our target of increasing the equity ratio of Prime Office above 45% and comply insofar with the legally specified REIT equity ratio by the end of 2013', says Alexander von Cramm, member of the executive board of Prime Office REIT-AG. All of the other conditions which have to be fulfilled in the run-up of the merger by Prime Office and OCM German Real Estate Holding AG are in the process of being implemented. The process is far advanced and the merger is scheduled for completion in the first quarter of 2014. Effective 30 September 2013, the book value of the state of the art property 'SZ-Tower' with a rental area of around 62,200 square metres, was 165 million Euro. Contact Prime Office REIT-AG Richard Berg Investor Relations / Corporate Communications Hopfenstrasse 4 80335 Munich/Germany Telephone +49 (0) 89 710 40 90 40 Facsimile +49 (0) 89 710 40 90 99 Email richard.berg@prime-office.de Disclaimer: This announcement does not contain or constitute an offer of, or the solicitation of an offer to buy or subscribe for, securities. This release is not an offer of securities for sale in the United States of America. Securities may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the 'Securities Act'). Any public offering of securities to be made in the United States of America will be made by means of a prospectus that may be obtained from the issuer and that will contain detailed information about the company and management, as well as financial statements. There will be no public offer of the securities in the United States of America. Subject to certain exceptions, the securities referred to herein may not be offered or sold in Australia, Canada or Japan or to, or for the account or benefit of, any national, resident or citizen of Australia, Canada or Japan. End of Corporate News --------------------------------------------------------------------- 21.11.2013 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: Prime Office REIT-AG HopfenstraÃ?e 4 80335 MÃ¼nchen Germany Phone: +49 (0)89 7104090 40 Fax: +49 (0)89 7104090 99 E-mail: richard.berg@prime-office.ag Internet: www.prime-office.ag ISIN: DE000PRME012 WKN: PRME01 Indices: SDAX Listed: Regulierter Markt in Frankfurt (Prime Standard), MÃ¼nchen, Stuttgart; Freiverkehr in Berlin, DÃ¼sseldorf End of News DGAP News-Service --------------------------------------------------------------------- 240948 21.11.2013

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