alstria office REIT-AG announced the signature of two new leases in Frankfurt and Wiesbaden. Both buildings belong to alstria's development portfolio. alstria has signed two new substantial leases for its development assets in Gustav-Nachtigal-Str. 3+5 (Wiesbaden) and Solmsstr. 27-37 (Frankfurt). With the new leases, both buildings are fully let to public tenants on a long-term basis. The combined annual rental income for the 60,000 square metres of lettable space amounts to EUR 14.8 million, which represents a rental growth of 52% compared to the prior rent. The combined capex of the modernisation measures, which will materially improve the quality of the assets, will amount to EUR 107 million and will result in an estimated yield on cost of 7.25%. The lease for the asset in Solmsstr. 27-37 (Frankfurt) has a maturity of 20 years and will start in the second half of 2021, whereby the lease length for the asset Gustav-Nachtigal-Str. 3+5 (Wiesbaden) is 15 years and will start in the second half of 2022.