DGAP-News: Chamartín Meermann Immobilien AG plans IPO
(firmenpresse) - Chamartin Meermann Immobilien AG / IPO
24.06.2010 15:41
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Chamartín Meermann Immobilien AG plans IPO
- Largest real estate developer in Berlin entering Prime Standard
- Focus on prime locations in 'Neue Berliner Mitte'
- Current project volume of more than 200,000 sqm with expected revenues of
about EUR 600 million
- Attractive profitability with earnings before taxes of around EUR 15
million on a pro forma basis in 2009
Berlin, 24 June 2010 - Chamartín Meermann Immobilien AG (CMI AG) is
preparing for its Initial Public Offering (IPO). The company aims to
increase capital with a public offering in Germany as well as with private
placements throughout Europe. The initial listing of the CMI shares will
take place on the Prime Standard of the Frankfurt Stock Exchange. Proceeds
will serve to strengthen the company's equity base and help finance further
growth in Berlin, one of the most attractive real estate locations in
Europe. Hauck&Aufhäuser Privatbankiers KGaA and BankM - representative
office of biw Bank für Investments und Wertpapiere AG will act as joint
lead manager and joint bookrunner. Silvia Quandt&Cie. AG will act as
co-lead manager. In addition comdirect Bank AG, DAB bank AG as well as
flatex Online broker will take over the role as selling agents.
Chamartín Meermann Immobilien AG is the largest real estate developer in
Berlin according to a recent study from BulwienGesa, one of the leading
independent real estate market researchers in Germany. The company
concentrates on developing attractive living spaces of the highest quality
in the residential, office, commercial and hotel segments. Its regional
focus is the capital's 'Neue Berliner Mitte' in the area surrounding the
government district, whose urban development has been - and will continue
to be - considerably influenced by numerous projects from CMI AG. With this
focus, CMI AG generates above-average yields.
'We see the IPO as the next logical step in our growth strategy,' comments
Heinz H. Meermann, founder and Chairman of the Supervisory Board at CMI AG.
'With a project volume of about EUR 600 million and a developing space of
more than 200,000 sqm, Chamartín Meermann Immobilien has achieved a size
that requires greater financing flexibility, broadening the shareholder
base and corresponding transparency.'
Focus on prime real estate in top locations and districts with unique
selling points
As a real estate developer, the company purchases property or real estate,
develops it into attractive living spaces, consisting of exclusive
residential, office or commercial units, and then sells these at a profit
to investors or owner-occupiers. This includes renovating exclusive
historical buildings as well as new constructions in top locations and
developing entire districts with unique selling points. This clearly
separates CMI AG's business model from those of other listed real estate
companies, which mainly just hold existing portfolios.
Among the most important projects currently in development are the
residential and office building Palais am Deutschen Theater with about
21,500 sqm of rental space, the residential and office building Pergamon
Palais with more than 10,000 sqm, the Sheraton Berlin Hotel at the Central
Station with 464 rooms as well as two large districts, one directly next to
the new BND (Federal intelligence service) headquarters and the other
located on the waterfront in Köpenick. Overall, CMI AG has 27 projects in
various stages of development in the pipeline with an expected sales volume
of about EUR 600 million. The maturity of the current portfolio as well as
the exceptional position of the 'Neue Berliner Mitte' as a real estate
location form the potential for substantially increasing revenues over the
coming years.
More than 30 years experience and a strong partner at its side
Chamartín Meermann Group can look back on more than 30 years of experience
in project development and has realised more than 50 high-end renovations
of old buildings as well as numerous new constructions in the German
capital. CMI AG emerged from the cooperation between Meermann Bau- und
Invest GmbH and the Spanish real estate group Inmobiliaria Chamartín S.A.,
Madrid, which currently holds an ownership stake of about 90%. Together,
the two partners formed CMI AG, the market leading real estate developer in
Berlin, and pooled both their investment activities and development
endeavours in the company in 2009. In the 2009 financial year Chamartín
Meermann Immobilien generated revenues of EUR 73.6 million on a pro forma
basis (including full consolidation of the Group's managed and consolidated
project subsidiaries) and earnings before taxes (EBT) of EUR 15.1 million.
Berlin only market to grow in crisis year 2009
With 4.8 million sqm of project area, Berlin is home to the largest project
development market in Germany and was the only city among the German
A-cities* to show significant growth during the crisis year 2009. The
capital has much more to offer than just stability with its balanced mix of
industries - it also presents excellent growth opportunities with its
planned infrastructure projects, such as the new airport hub Berlin
Brandenburg International as well as through the further influx of
government agencies, associations, organisations and companies from
future-oriented industries.
Within the city, Berlin-Mitte is the gold standard. The exceptional
strength of 'Mitte' is seen in both the prime rental prices of the
residential and office segments and the peak prices for owner-occupied
flats, which are substantially higher than Berlin's overall average.
'Due to the continual influx of institutional customers and unique design
possibilities, Berlin is one of the fastest growing project development
markets in Europe today with very attractive high-yield opportunities. We
are especially well positioned in the prime market Berlin-Mitte and can
utilise the funds generated from the IPO to expand our project pipeline,'
says Ralph Küchenthal, Management Board member at CMI AG.
Further details on the IPO will be announced shortly.
* A-cities: Berlin, Düsseldorf, Frankfurt/Main, Hamburg, Cologne, Munich
and Stuttgart
Press contact:
Barbara Lipka
Head of Communications
Chamartín Meermann Immobilien AG
Phone: +49 (0)30 308775 150
E-mail: barbara.lipka(at)cmi-ag.de
Dariusch Manssuri
IR.on AG
Phone: +49 (0)221 91409 75
E-mail: dariusch.manssuri(at)ir-on.com
This announcement does not constitute an offer to buy or subscribe for
securities but is only an announcement of a possible offer.
The possible offer does not constitute an offer to buy or subscribe for
securities to any person in Australia, Canada, Japan, or the United States
or in any jurisdiction to whom or in which such offer or solicitation is
unlawful. The securities referred to herein may not be offered or sold in
the United States absent registration under the U.S. Securities Act of
1933, as amended (the 'Securities Act') or another exemption from, or in a
transaction not subject to, the registration requirements of the Securities
Act. Subject to certain exceptions, the securities referred to herein may
not be offered or sold in Australia, Canada or Japan or to, or for the
account or benefit of, any national, resident or citizen of Australia,
Canada or Japan.
The offer and sale of the securities referred to herein has not been and
will not be registered under the Securities Act or under the applicable
securities laws of Australia, Canada or Japan. There will be no public
offer of the securities in the United States.
The announcement only serves advertisement purposes and does not constitute
a securities prospectus. If the announced offer will be executed, investors
should no purchase or subscribe for any shares referred to in this press
release except on the basis of information in the prospectus to be issued
by Chamartín Meermann Immobilien AG (the 'Company') in connection with the
offering of such shares and approved by the German Financial Supervisory
Authority (BaFin). Copies of the prospectus are available after publication
free of charge from Chamartín Meermann Immobilien AG (SpreeKarree,
Friedrichstraße 136, 10117 Berlin, Germany) or on the Company's website
(www.cmi-ag.de).
This announcement includes 'forward-looking statements', which are based on
evaluations and assumptions made to the best knowledge by the management of
Chamartín Meermann Immobilien AG. Forward-looking statements are subject to
known and unknown risks, uncertainties and other factors, which may lead to
a considerable discrepancy of the earning and profit situation, value
development or the results of Chamartín Meermann Immobilien AG from the
earning and profit situation, value development or the result, which is
expressly and implicitly described in these forward-looking statements.
Considering the risks, uncertainties as well as the other factors,
recipients of this press release should not inadequately rely on these
forward-looking statements. Chamartín Immobilien AG does not take any
obligation to currently adjust such forward-looking statements and to
adjust them to future events and developments.
24.06.2010 15:41 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Language: English
Company: Chamartin Meermann Immobilien AG
Friedrichstr. 136
10117 Berlin
Deutschland
Phone: +49 (0)30 308 775 305
Fax: +49 (0)30 308 775 399
E-mail: info(at)cmi-ag.de
Internet: www.chamartin.de
WKN:
End of News DGAP News-Service
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Datum: 24.06.2010 - 15:41 Uhr
Sprache: Deutsch
News-ID 22971
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