DGAP-News: TAG Immobilien AG sells residential property in Hamburg
(firmenpresse) - DGAP-News: TAG Immobilien AG / Key word(s): Miscellaneous
TAG Immobilien AG sells residential property in Hamburg
05.01.2012 / 10:25
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TAG Immobilien AG sells residential property in Hamburg
* Based on IFRS book values, the sale will result in capital gains of EUR
2.8 million
* Selling price is approx. 30 % above IFRS book value
Hamburg, 05 January 2012 -TAG Immobilien AG (TAG in the following) has sold
a property in Hamburg containing roughly 5,400 m²of residential space in
130 units. TAG and the buyer have agreed to keep the purchase price
confidential; however, it is 30 % above the property's current IFRS book
value and will result in gains of around EUR 2.8 million.
The sale of the property was driven by the purchase price offered, which
was well above the last appraisal.
Rolf Elgeti, managing director of TAG Immobilien AG, says: 'While TAG is a
long-term investor, we occasionally take advantage of opportunities to
realise profits by selling properties at attractive prices. We will invest
the capital released in this way in buying properties with a much higher
initial yield, which will further improve the operating profitability of
the TAG group. We will, of course, continue to perform individual sales
wherever this seems in line with value-optimising portfolio management.'
About TAG Immobilien AG:
TAG Immobilien AG (TAG) is a publicly listed real-estate company with a
125-year history. The SDAX-listed company currently has a market cap of
approx. EUR 450 million. Its primary businesses are residential and
commercial properties in German metropolises, as well as property-related
services. Through active asset management and targeted inventory
development, TAG gradually leverages existing potential, which leads
directly to an increase in rental profits. Essentially, its business
activities centre on generating stable cash flows and attractive yields.
End of Corporate News
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05.01.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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The issuer is solely responsible for the content of this announcement.
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Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: TAG Immobilien AG
Steckelhörn 5
20457 Hamburg
Germany
Phone: 040 380 32 0
Fax: 040 380 32 390
E-mail: ir(at)tag-ag.com
Internet: http://www.tag-ag.com
ISIN: DE0008303504
WKN: 830350
Listed: Regulierter Markt in Frankfurt (Prime Standard), München;
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
Stuttgart
End of News DGAP News-Service
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151736 05.01.2012
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Unternehmensinformation / Kurzprofil:
Datum: 05.01.2012 - 10:25 Uhr
Sprache: Deutsch
News-ID 101258
Anzahl Zeichen: 8192
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Kategorie:
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