CRE Resolution GmbH, a subsidiary of the listed Colonia Real Estate AG (ISIN: DE0006338007), continuously expanded its successful letting activities in the commercial and residential field in the first five months of 2008. Both, the furthermore positive economy in Germany and the sustainable establishment of CRE stimulated the demand. This resulted in the letting of approximately 30,200 square metre of office space for customers in the field of asset management and 53,000 square metre of residential space with a total of some 875 rental agreements for the stock of Colonia Real Estate AG. The properties are located throughout Germany.
The two largest contracts concluded are the letting of approximately 7,500 square metre to a major German bank in the Signaris office building in Frankfurt and 6,400 square metre to a clinic operator in Ismaning, near Munich. In the familiar Dischhaus located in Cologne city centre CRE Resolution succeeded in letting approximately 1,400 square metre to a well-known advertising agency. In the City-Hochhaus Leipzig CRE Resolution GmbH managed to let approximately 820 square metre. Further letting also occurred in Neusswith 1,500 sq uare metre, and 2,000 square metre in the Pelikanviertel in Hanover. Two new tenants were acquired for Galerie Lafayette in Berlin with approximately 1,000 square metre.In addition, numerous existing commercial rental agreements with a volume of approximately 23,500 square metre could be extended.
Furthermore, Resolution was able to expand its strategic asset asset management into the residential field with an acquisition of a EUR 103mn residential portfolio together with Merrill Lynch earlier this week. Thus, the company is taking the next step to meet the requirements of its customers. The German market offers strong potential in the nationwide commercial and residential sector which as of today is only covered by a few professional asset managers like CRE Resolution.
The two largest contracts concluded are the letting of approximately 7,500 square metre to a major German bank in the Signaris office building in Frankfurt and 6,400 square metre to a clinic operator in Ismaning, near Munich. In the familiar Dischhaus located in Cologne city centre CRE Resolution succeeded in letting approximately 1,400 square metre to a well-known advertising agency. In the City-Hochhaus Leipzig CRE Resolution GmbH managed to let approximately 820 square metre. Further letting also occurred in Neusswith 1,500 sq uare metre, and 2,000 square metre in the Pelikanviertel in Hanover. Two new tenants were acquired for Galerie Lafayette in Berlin with approximately 1,000 square metre.In addition, numerous existing commercial rental agreements with a volume of approximately 23,500 square metre could be extended.
Furthermore, Resolution was able to expand its strategic asset asset management into the residential field with an acquisition of a EUR 103mn residential portfolio together with Merrill Lynch earlier this week. Thus, the company is taking the next step to meet the requirements of its customers. The German market offers strong potential in the nationwide commercial and residential sector which as of today is only covered by a few professional asset managers like CRE Resolution.
