January 13, 2021
PREOS Global Office Real Estate & Technology AG: Billion-dollar US group Avaya extends lease at Centurion
Leipzig, 13.01.2021 - PREOS Global Office Real Estate & Technology AG ("PREOS", ISIN DE000A2LQ850) has achieved another leasing success in the Centurion property in Frankfurt's City West. The US-American communications company Avaya has extended the existing lease of its German branch in the 17-storey office tower in Theodor-Heuss-Allee by more than 5 years. The group, headquartered in Santa Clara, California, has leased more than 5,500 square metres of space at Centurion; the average remaining lease term at the property is 4.6 years.
Centurion, which is managed by PREOS Group parent publity AG as asset manager, has been in the PREOS portfolio since the end of 2019.
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About PREOS Global Office Real Estate & Technology AG
PREOS Real Estate & Technology AG ("PREOS") is an active real estate investor focused on office properties. PREOS acts as an efficient management holding company. The acquisition focuses on office properties with development potential in German metropolitan regions. Value creation is generated by targeted asset management measures. Developed portfolio properties are sold in the event of adequate sales opportunities. The corporate strategy is to significantly expand the real estate portfolio through acquisitions in the coming years. The PREOS share (ISIN DE000A2LQ850) is listed in the over-the-counter segment m:access of the Munich Stock Exchange (PAG.MU) and on Xetra (PAG.DE). The company headquarters of PREOS is located in Leipzig.