Investments

Since 2008, Arundel has owned a complex of office buildings in Leipzig, Germany leased to the Free State of Saxony (Covenant Strength – long term: AAA) consisting of approximately 52,000m² (approximately 560,000 square feet) fitted out to meet the special requirements of the tenant. The Leipzig Properties were purpose built to a high standard in 1997, for the State of Saxony, and have been full leased to the State since completion. The State of Saxony uses the Leipzig Properties to house a variety of state administrative authorities and institutions including the Leipzig Local Court, the Leipzig State Police, the Saxon Court of Audit and the State Archives of Saxony. Obligations of the State under the lease are supported by the full faith and credit of the Federal Republic of Germany which enjoys an AAA credit rating.