August 27, 2014 3:50 PM ET

Real Estate Investment Trusts (REITs)

Company Overview of Prime Office REIT-AG

Company Overview

Prime Office REIT-AG operates as a real estate investment trust (REIT) that engages in investing, acquiring, managing, administering, and leasing office properties for high-credit clients in Germany. The company’s properties are used as office buildings, as well as available for retail and other types of occupancy. It operates a portfolio of 14 office and administration buildings with a total rental floor space of approximately 383,000 square meters located in German cities and metropolitan areas. The company was founded in 2007 and is based in Munich, Germany.

Hopfenstrasse 4

Munich,  80335

Germany

Founded in 2007

34 Employees

Phone:

49 89 710 40 90 0

Fax:

49 89 710 40 90 99

Key Executives for Prime Office REIT-AG

Prime Office REIT-AG does not have any Key Executives recorded.

Prime Office REIT-AG Key Developments

Prime Office AG Elects Chairman and Deputy Chairman of Supervisory Board

The supervisory board of Prime Office AG has elected Mr. Hermann T. Dambach as chairman of the supervisory board. Mr. Uwe E. Flach has been elected as deputy chairman.

Prime Office REIT-AG Reports Earnings Results for the Nine Months Ended September 30, 2013; Confirms Earnings Guidance for the Year 2013

Prime Office REIT-AG reported earnings results for the nine months ended September 30, 2013. For the period, the company reported rental and lease revenues of EUR 38.7 million compared to EUR 54.7 million reported in the same period last year. Operating loss was EUR 62.8 million against operating income of EUR 31.5 million reported last year. Financial loss was EUR 23.2 million against EUR 24.2 million reported last year. Net loss was EUR 86.0 million or EUR 1.66 per share against income of EUR 7.3 million or EUR 0.14 per share reported last year. Funds from operations were negative at EUR 3.3 million or EUR 0.06 per share against funds from operations of EUR 19.6 million or EUR 0.38 per share reported last year. NAV per share was EUR 7.32. For the year, executive board of the company confirmed revenue guidance of between EUR 51 and EUR 53 million for the full year and adjusts the negative FFO guidance to a range between EUR 3 and EUR 6 million.

Prime Office REIT-AG, Nine Months 2013 Earnings Call, Nov 06, 2013

Prime Office REIT-AG, Nine Months 2013 Earnings Call, Nov 06, 2013

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Merger/Acquisition
January 20, 2014
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Merger/Acquisition
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