TLG: €1.2bn in firepower for new development plans and transactions

31/01/2019

TLG Immobilien, Germany’s third-largest listed commercial real estate company, is planning to expand its real estate portfolio by €1.2bn in the short to medium term. “We can and want to make acquisitions, and we are also investing heavily in our portfolio,” said Gerald Klinck, the company’s new CFO in an interview with TD. TLG intends to finance this by increasing its recently-fallen leverage ratio and through capital measures. New buildings are planned on TLG-owned properties in Berlin and Dresden in addition to the recently-announced 150,000 sqm project at Alexanderplatz in Berlin.  Klinck believes it is possible that the retail share of the €4.1bn portfolio will be halved due to sales and office investments. TLG has recently found itself in the midst of a controversy: as reported, shareholder Ouram Holding has called for an extraordinary general meeting to replace the the members of the Supervisory Board. The board’s chairman Michael Zahn had recently warned shareholders that Ouram Holding could thus take control of the company and possibly reappoint the Executive Board. Klinck said only that he saw no reason for further changes, in light of the company’s positive business development.


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