LONDON, Sept. 5, 2017 /PRNewswire/ -- NorthStar
Realty Europe Corp. (NYSE: NRE) ("NorthStar Realty Europe" or
"NRE"), a European-focused office REIT, announces today a new ten
year lease with Invesco UK Limited ("Invesco") at 43-45 Portman
Square for 4,406 square meters of office space over four
floors.
Doubling its existing space, long-term tenant Invesco has taken
on an additional 2,363 square meters from existing tenants. Invesco
has been at the building since 2008.
Upon completion Invesco and Cushman & Wakefield LLP will be
the only office tenants at Portman Square. They will occupy 9,530
square meters in the 10,447 square meter building.
Active Asset Management driving value enhancement
- Weighted average lease term extension from 6.5 to 8.7
years
- 15% contractual income growth since acquisition
- Lobby and common areas refurbishment completed
Building highlights
- 43-45 Portman Square is a 10,447 square meter Class A
building
- Located in London West-End, north of Oxford Street and adjacent
to Selfridges
- 100% occupied to high quality tenants
Mahbod Nia, NorthStar Realty
Europe's Chief Executive Officer, commented:
"Invesco's continued commitment to Portman Square is a strong
endorsement of the quality of this building, further enhanced by
our recent lobby refurbishment program, as well as its excellent
location. Invesco's expansion in the building is the latest
achievement in NRE's strong track record of pro-actively managing
our assets as we seek to create value for our shareholders."
About NorthStar Realty Europe
NorthStar Realty Europe Corp. (NYSE: NRE) is a European-focused
commercial real estate company with predominantly high quality
office properties in Germany, the
United Kingdom and France, organized as a REIT and managed by an
affiliate of Colony NorthStar, Inc. (NYSE: CLNS), a leading global
real estate and investment management firm. For more information
about NorthStar Realty Europe Corp., please visit
www.nrecorp.com.
Safe Harbor Statement
This press release contains certain "forward looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995, Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
Forward looking statements are generally identifiable by use of
forward looking terminology such as "may," "will," "should,"
"potential," "intend," "expect," "seek," "anticipate," "estimate,"
"believe," "could," "project," "predict," "hypothetical,"
"continue," "future" or other similar words or expressions. Forward
looking statements are not guarantees of performance and are based
on certain assumptions, discuss future expectations, describe plans
and strategies, contain projections of results of operations or of
financial condition or state other forward looking information.
Forward looking statements are necessarily speculative in nature,
and it can be expected that some or all of the assumptions
underlying any forward-looking statements will not materialize or
will vary significantly from actual results. Variations of
assumptions and results may be material. Factors that could cause
actual results to differ materially from NRE's expectations are
specified in NRE's annual report on Form 10-K for the year ended
December 31, 2016, and its other
filings with the Securities and Exchange Commission. Such forward
looking statements speak only as of the date of this press release.
NRE expressly disclaims any obligation to release publicly any
updates or revisions to any forward looking statements contained
herein to reflect any change in its expectations with regard
thereto or change in events, conditions or circumstances on which
any statement is based.
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SOURCE NorthStar Realty Europe Corp.