The Ritz Herald
Krefeld (North Rhine-Westphalia, Germany) – cityscape, view from the hill “Kapuzinerberg” to the southeast. © Steffen Schmitz

Aroundtown Achieves Full Occupancy Rate at Property in Krefeld With New Lease for 1,650 sqm and Additional Contract Extension With Existing Tenant for 1,150 sqm

Published on August 12, 2021

Aroundtown recently increased rented space in a property in Krefeld by 40% with two newly signed contracts. In fact, the property is now fully let in the long term. The first deal consists of a new 1,650 sqm 10-year lease with BELFOR Deutschland GmbH. The second is an additional 3-year contract extension with the existing tenant Forbo Siegling GmbH for 1,150 sqm.

The property consists of a logistics/light industrial site at Emil-Schäfer-Str. 22-24, in Krefeld. Located only a few minutes by car from the city center, it has good connections to the A57 and A40 freeways and, by extension, to the A43. Krefeld is very well connected in North Rhine-Westphalia, which means that the surrounding cities of Düsseldorf, Dortmund, Duisburg and Essen can be reached very easily. The site has a total of approx. 2,800 sqm of office/production and storage space.

Aroundtown was founded in 2004, developed by investor and entrepreneur Yakir Gabay (יקיר גבאי) and it has since become the largest commercial real estate company in Germany and 4th largest in Europe, according to market cap. The company’s business strategy is based on buying, repositioning and optimizing office and hotel properties. Aroundtown invests in income generating quality properties that have potential for value-add in central locations in Europe, mainly top tier cities and metropolitan locations in Germany and the Netherlands.

The group had its IPO in 2015. The real estate giant currently trades on the Frankfurt Stock Exchange Prime Standard and has successfully secured its’ placement as the largest listed and highest rated German commercial real estate company with a BBB+ rating by S&P.

Avisco (controlled by Yakir Gabay יקיר גבאי) holds over 10% of Aroundtown’s shares, followed by Blackrock at 5%. Other shareholders include Norges, Vanguard, Allianz, BNP Paribas, Japan’s Government investment fund, Aliance-Bernstein, Dekabank, State-Street, Bank of Montreal and many other leading international investors. The most important investors include ECB, GIC, Union Investment, DB, UBS, CS, M&G, Pictet, Credit Agricole, among many other major institutional investors.

Business Editor