PREOS Real Estate AG announced that it has further expanded its portfolio. The company has signed an agreement to acquire an office building in the Ruhr city of Oberhausen. Constructed in 2010 with commercial space totaling around 2,500 sqm and 70 parking spaces, the building is fully let to a subsidiary of a major German industrial group. There are approximately six years remaining on the existing lease. The modern property has an excellent floor plan and is equipped to a high standard. There is potential for expanding the property, which offers exceptional third-party utilisation opportunities. The office building is located in an established commercial zone with excellent regional and nationwide transport links. The transaction is expected to close in the first half of 2019. The acquisition increases the PREOS portfolio to 11 assets, including properties in the Munich, Cologne, D-sseldorf, Frankfurt and Stuttgart metropolitan areas with a total lettable area of approximately 55,000 sqm. The average remaining lease term for the 11 properties is more than eight years. PREOS plans to expand its portfolio further in the near future. The company has also received initial inquiries concerning the sale of selected assets.