Arcona Property Fund N.V. and AT & T extend lease agreement in Košice
17 December 2018
Arcona Property Fund N.V. has reached agreement with AT & T Enterprises on the extension of the existing lease agreement for the office space in Letna 45 in Košice, Slovakia. The contract is extended by three years until April 2023, with two extension options of three years. In total AT & T leases 5,892 m2 of space, of which 998 m2 for an indefinite period. The lease agreement accounts for approximately 8.3% of the total rental income of Arcona Property Fund on an annual basis.
The new lease expires in April 2023, with extension options until April 30, 2029. As part of the agreement, Arcona Property Fund will invest in AT & T spaces and make improvements to the general areas of the building, including renovation of the main entrance and security installations.
Further financial details about the agreement will not be announced. Due to the agreement, the weighted average rental period of the Slovak portfolio increases to 3.91 years.
AT & T is the main tenant of Letna 45 and the largest tenant of Arcona Property Fund. The management of Arcona Property Fund is pleased that AT & T has committed itself for a longer period of time.
|
Arcona Property Fund N.V. and AT & T extend lease agreement in Košice 17 December 2018 |
Download PDF |
