DGAP-News: GWB Immobilien AG starts construction of POSTGALERIE SPEYER
(firmenpresse) - DGAP-News: GWB Immobilien AG / Key word(s): Miscellaneous
GWB Immobilien AG starts construction of POSTGALERIE SPEYER
22.03.2011 / 11:21
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- Biggest property in GWB's corporate history
- About 80% of the retail space rented
- Opening scheduled for the 3rd quarter of 2012
Hamburg, 22. March 2011. Construction begins in Speyer: now that GWB
Immobilien AG has obtained all the funding needed for its POSTGALERIE
development project, construction work in Speyer will start. POSTGALERIE is
the biggest property in GWB's corporate history so far, with an investment
volume of EUR 44.3 million. 80 per cent of the total retail space of about
20,000 m²has already been rented. POSTGALERIE in the centre of Speyer will
probably be opening in the 3rd quarter of 2012.
'In planning POSTGALERIE, we have given particularly high priority to
sustained development in the centre of Speyer: the historic facade of what
used to be Speyer post office is being maintained, while a modern
inner-city gallery is being created on three levels inside the building',
explains Dr Norbert Herrmann. 'Our aim in doing this is to build a shopping
centre that gives Speyer a distinctive identity - without changing the face
of the city centre. The objective is for POSTGALERIE is to become a lively
focal point in the middle of Speyer.'
In spite of the fact that the capital market environment continues to be
difficult, the Management Board of GWB has succeeded in arranging the
financing of the development project. An appropriate loan contract was
concluded with HSH Nordbank AG in February. Together with the equity
provided, all the funds needed for POSTGALERIE SPEYER have now been
obtained. 'The strong commitment of our partner Caposition S.àr.l. has
played an important role in this process,' states Dr. Norbert Herrmann.
In summer 2010 GWB concluded an extensive joint venture agreement with
Caposition S.àr.l. Caposition was established by Natixis Capital Partners
and Composition Capital Partners, in order to make capital available to
property companies directly or indirectly for the development of property
projects in Germany and to invest in the projects via this vehicle.
GWB is listed in the Prime Standard at Frankfurt Stock Exchange. Over a
period of more than 15 years, the GWB corporate group has developed into a
specialist for the implementation of large retail projects and for the
revitalisation of retail properties. The focus is on medium-sized towns and
suburban areas. The strength of the GWB business model is that the company
acts as a single, integrated source for the provision of all the necessary
services, covering the entire supply chain from project development and
construction to marketing and management. More than 40 projects have been
completed successfully.
Further information is available on the company website
www.GWB-Immobilien.de.
Press inquiries:
Kirchhoff Consult AG, Janina Wismar
Phone: +49 (0) 40 60 91 86-50, janina.wismar(at)kirchhoff.de
End of Corporate News
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Language: English
Company: GWB Immobilien AG
Hauptstraße 1a
22962 Siek
Deutschland
Phone: +49 4107 9080-0
Fax: +49 4107 908072
E-mail: info(at)gwb-immobilien.de
Internet: www.gwb-immobilien.de
ISIN: DE000A0JKHG0, DE000A0JRVH4, DE000A0JRVJ0
WKN: A0JKHG
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart
End of News DGAP News-Service
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116382 22.03.2011
Datum: 22.03.2011 - 11:21 Uhr
Sprache: Deutsch
News-ID 33532
Anzahl Zeichen: 0
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Kategorie:
Business News
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