Monday, December 17, 2007

Daimler Agrees to Sale Leaseback of Office Space at Potsdamer Platz in Berlin

Daimler Web Site - December 14

Stuttgart, December 14, 2007 - Daimler (stock-exchange abbreviation DAI) has sold the “Quartier Potsdamer Platz” to SEB Asset Management, based in Frankfurt am Main. The complex comprises a total of 500,000 square meters of floor space above and below ground with 19 buildings. 42% of the property is high-quality office space, 22% is used for retail purposes, and the rest consists of apartments, hotels, entertainment and catering facilities. Half of the office space at Potsdamer Platz will continue to be used by the Daimler Group on a long-term basis. The transaction is expected to be closed by the end of the first quarter of 2008.

Dr. Ruediger Grube, Member of the Board of Management of Daimler AG for Corporate Development and Real Estate, stated, “We are delighted that with SEB Asset Management we have found an investor with a long-term orientation that will continue to develop and enhance one of the most attractive sites in Europe”.

The transaction is subject to the approval of the antitrust authorities. The sale is part of the ongoing measures being taken to optimize the Group’s portfolio with the goal of focusing on the core business and improving value added.

(Spiegel reports that the sale price for the entire complex was was around €1.2 billion.) Sphere: Related Content

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