DGAP-News: OperaOne AG: 'Westend-Kettenhofweg' project sold
(firmenpresse) - DGAP-News: Opera One AG / Key word(s): Real Estate/Disposal
OperaOne AG: 'Westend-Kettenhofweg' project sold
05.01.2012 / 08:10
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- Return of over 25% on total project volume
- Sales price of almost EUR 5,000 per m²- Acquisition, project development and sale in less than 12 months
Frankfurt am Main, January 5, 2012 - OperaOne AG, a project developer for
high-quality residential real estate in Frankfurt am Main, has completed
its 'Westend-Kettenhofweg' project, which was not acquired until July 2011,
and sold it in its entirety to a private investor before the end of 2011.
The margin on the entire product volume stood at over 25%, significantly
ahead of OperaOne's 16% targeted project return. The sales price is
equivalent to almost EUR 5,000 per square metre.
The architecturally timeless, five-storey property comprising only five
residential units is situated in one of Frankfurt's top locations, very
close to a further project of the company, the 'Westend-Suites'. The
building was restored to a high quality, while also taking energy
efficiency aspects into account. The planned date for the transfer of
rights and obligations is in the first quarter of 2012, so that the sale
does not become relevant in terms of earnings until the 2012 financial
year. Ralph Jerey, CEO of OperaOne AG, is very satisfied with the project's
progress, and commented as follows: 'We would like to thank the entire
project team, which kept to a very tight timeframe, and has worked
professionally and efficiently. This provides a further example of how
specially sustainable project development can be operated on a very
profitable basis. Frankfurt, in particular, continues to offer a very good
market environment for this purpose, with good price levels and high
demand.'
Ralph Jerey went on to provide a confident outlook for the 2012 financial
year: 'Our 'Westend Suites' project is running to its planning schedule.
The same is true for our project in Sachsenhausen, where we are in advanced
sales negotiations, and are also optimistic that we will be able to sell
this project quickly and profitably. Moreover, we are prospectively seeking
further new projects in the Frankfurt city area, and in some cases we are
already in specific negotiations. Our aim is to bring the year 2012 to a
positive conclusion.'
Company profile
OperaOne AG is a project development company that specialises in the
acquisition, development and sale of high-quality residential real estate.
The company focuses its investments on the inner city area of Frankfurt am
Main. This includes the popular city districts of Westend, Nordend,
Holzhausenviertel, Sachsenhausen and Europaviertel, among others. The
company primarily purchases existing residential and commercial properties
that offer the potential for expansion and alternative utilisation. The
targeted project-related investment volume is between EUR 5 million and EUR
15 million. The acquired properties are to be realised on the basis of
modern, high-quality residential concepts with a focus on the
sustainability aspects of residential quality and economic and energy
efficiency, before being sold.
The company is currently developing the 'Westend Suites' residential
project in Frankfurt's West End. This residential building, which is being
renovated to high-quality standards, contains 43 apartments and five
penthouses entailing a total living area of around 4,250 m². It is located
between the Mendelssohnstrasse and Arndstrasse in parallel with the
Bockenheimer Landstrasse. The company aims to complete the project by the
first quarter of 2012, before selling the Westend Suites as part of a
global sale. In addition, OperaOne plans and runs further projects in the
inner city area of Frankfurt.
OperaOne AG has set itself the long-term objective of becoming a leading
project developer of high-quality residential real estate in Frankfurt am
Main. The company also aims to realise this objective in the form of joint
ventures in other development companies' projects. Over the past 20 years,
OperaOne AG's management has developed and realised many comparable
properties in top Frankfurt locations. Based on an extensive and
established network that includes real estate agents, city planners,
investors and project developers, the company has created an attractive
project pipeline.
Contact:
cometis AG
Dirk Ulmer
Tel.: +49 (0)611 - 205855-24
Fax: +49 (0)611 - 205855-66
E-Mail: ulmer(at)cometis.de
End of Corporate News
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Language: English
Company: Opera One AG
Rossmarkt 11
60311 Frankfurt
Germany
Phone: 069 920 374 100
Fax: 069 920 374 101
E-mail: info(at)operaone.de
Internet: www.operaone.de
ISIN: DE000A1H6YK2
WKN: A1H6YK
Listed: Open Market (Entry Standard) in Frankfurt
End of News DGAP News-Service
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151661 05.01.2012
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Datum: 05.01.2012 - 08:10 Uhr
Sprache: Deutsch
News-ID 101244
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Kategorie:
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