publity - Lower transaction activity in FY20

While publity continues to pursue its two-pillar strategy based on real estate asset management and own investments, it is in discussions with a large Asian conglomerate to sell a majority stake in PREOS, which (through publity Investor and GORE German Office Real Estate) holds the group’s investment properties. The parties are also negotiating the provision of an additional three-digit million euro in funding to PREOS (on the successful closure of the deal) to fuel its international portfolio expansion. Meanwhile, the FY20 results of the asset management business were below FY19 due to the impact of the pandemic on property transaction volumes.