DGAP-News: GIEAG Gewerbe Immobilien Entwicklungs AG: GIEAG acquires Wohnbau Gaggenau.
(firmenpresse) - DGAP-News: GIEAG Gewerbe Immobilien Entwicklungs AG / Key word(s):
Acquisition/Miscellaneous
GIEAG Gewerbe Immobilien Entwicklungs AG: GIEAG acquires Wohnbau
Gaggenau.
17.01.2011 / 10:15
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- GIEAG adds 219 residential units to its residential real estate
portfolio
- Current occupancy rate at 100 percent
Munich, 17 January 2011: As already announced, GIEAG AG is purchasing 100
percent of the shares of the residential property administration firm
Wohnbau Gaggenau GmbH from its previous proprietors, the city of Gaggenau
and the Daimler corporation. The property assets of Wohnbau Gaggenau GmbH
include, in particular, nine pieces of property with 178 residential units
in Gaggenau as well as a 50 percent share in a senior residence with 54
additional residential units. At the same time, GIEAG is taking over a
piece of urban property, which can be developed into retailing or
residential space. 41 additional residential units will be acquired
directly from a subsidiary of Daimler AG, the property administration firm
Daimler Wohnungsbau GmbH&Co- OHG.
Philipp Pferschy: 'These acquisitions are an excellent addition to our
residential property assets in southern Germany. The real estate is located
in an affluent region near the city of Baden-Baden. We regard the 100
percent-occupied residential units as a long-term secure investment. In
addition, a partial piece of property which we also purchased in the city
center of Gaggenau offers excellent possibilities for the further
development of retailing and residential space. The purchase was financed
with external capital from the Volksbank Baden-Baden Rastatt, combined with
equity capital from GIEAG.'
End of the press release
About GIEAG Gewerbe Immobilien Entwicklungs AG (GIEAG):
The quoted project development company GIEAG Gewerbe Immobilien
Entwicklungs AG, which is abbreviated as GIEAG and was founded in December
1999, supports its clients from the initial idea, to the financial and
realization of projects, and on to the sale of the finished property. Its
main focus is the realization of long-term retailing projects, office
buildings, and logistic centers located primarily in southern Germany. In
addition, GIEAG also operates as an investor for residential real estate
with particularly high potential for development. The Internet site
www.gieag.de provides you an overview of our corporation, as well as its
history and our portfolio of services.
GIEAG Gewerbe Immobilien Entwicklung AG
Investor Relations, Philipp Pferschy
Widenmayerstraße 43
80538 München
Email: ir(at)gieag.de
Tel: +49 89 290516-13
End of Corporate News
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109084 17.01.2011
Datum: 17.01.2011 - 10:15 Uhr
Sprache: Deutsch
News-ID 33006
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
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