DGAP-News: TAG Immobilien AG: TAG Immobilien AG acquires a residential real estate portfolio of 1,068 units in the greater Berlin region
(firmenpresse) - DGAP-News: TAG Immobilien AG / Key word(s): Real Estate
TAG Immobilien AG: TAG Immobilien AG acquires a residential real
estate portfolio of 1,068 units in the greater Berlin region
11.01.2012 / 16:53
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* Purchase price stands at around EUR 30 million
* The purchase price will be paid through the acceptance of the real estate
holding company's liabilities plus a cash component of around EUR 11
million.
(Hamburg, 11 January 2012) TAG Immobilien AG ('TAG' for short) has today
acquired via a share deal a real estate portfolio comprising 1,057
residential units and 11 commercial units located north of Berlin and held
by a private housing company.
The units acquired entail a contiguous residential estate with a total
rental area of 59,911 sqm. Built in the 1970s/1980s, the buildings
underwent extensive renovation in 1999-2001 to bring them into line with
modern energy and residential standards. The portfolio is situated in an
attractive location in Eberswalde, north of Berlin. The net rental
generated by the newly acquired real estate comes to EUR 2.9 million per
year, with the purchase price standing at some EUR 30 million. The current
rental is only EUR 4.04 per sqm, thus providing considerable potential for
rental growths. The vacancy rate stands at around 7 percent. The real
estate can be managed inexpensively by the TAG Group's existing office in
Berlin. The portfolio will be transferred to the TAG Group within the first
quarter of 2012. This portfolio is one of the acquisitions which TAG had
announced prior to its last equity issue in November.
'Today's acquisition additionally increases the TAG Group's portfolio in
Berlin to around 10,000 units. In 2012, the Berlin region will remain a
focus of our growth strategy of investing in selected regional areas
offering potential for development and attractive returns. We believe that
suburban areas and commuter towns around large German cities offer a
particularly favourable risk/reward ratio as they combine potential for
rental growths with attractive initial returns,' says Rolf Elgeti, TAG's
CEO.
TAG Immobilien AG
Investor and Public Relations
Britta Lackenbauer / Dominique Mann
Tel. +49 (0) 40 380 32 0
Fax +49 (0) 40 380 32 390
pr(at)tag-ag.com
End of Corporate News
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11.01.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
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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.comInternet: 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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