PAMERA let 51,000 sq m in 2011 - and a further 27,000 sq m in 2012

Frankfurt, 1 March 2012 - PAMERA Asset Management GmbH, acting for its clients, concluded 97 leases on a total of nearly 51,000 sq m in 2011. 37,000 sq m of the total, which was mostly office space, involved new lettings. Lease extensions were agreed on another 14,000 sq m.

Christoph Wittkop, spokesman for the management of PAMERA, is satisfied: "Considering that we manage ever-more-complex portfolios and properties with intensive letting and refurbishment requirements, our letting performance of some 9% of the total space managed is very encouraging. The total vacancy in the Asset Management portfolio is approx. 145,000 sq m. From the start, 2012 also appears to be very promising.  By the end of February we had already concluded leases on around 27,000 sq m."

In 2011 the PAMERA group was also involved in real estate transactions with a total volume of 145 million EUR. These included five acquisitions and two sales. PAMERA has also taken on co-investments with its clients, for example in the Dieterich-Karree in Dusseldorf. "On the investment side we foresee interesting opportunities for properties in good locations but with short remaining leases and investment requirements. Using the right strategies and with active asset management, these can enable investors to realise increased value" continued Herr Wittkop.

As at the end of February 2012, PAMERA manages property assets worth around 700 million EUR, with a total floor area of approx. 582,000 sq m.

The clients of the PAMERA Real Estate Group include well-known domestic and international institutional investors in the "Opportunistic" to "Core" segments, as well as German and foreign banks. Its main responsibilities, in addition to ongoing asset management, principally involve the letting and subsequent sale of the properties. With its in-house development department, PAMERA also provides "one-stop" property revitalisation and repositioning services.