DGAP-News: Opera One AG: Project in Frankfurt Westend acquired
(firmenpresse) - DGAP-News: Opera One AG / Key word(s): Real Estate/Miscellaneous
Opera One AG: Project in Frankfurt Westend acquired
22.07.2011 / 08:25
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Frankfurt/Main, July 22, 2011 - OperaOne AG, a project developer for
high-quality residential properties in Frankfurt/Main, has acquired a
property in the south of Frankfurt Westend. The property includes a
five-storey building and can be revitalised in a high quality. As agreed
with the selling party the purchase price is not disclosed.
'Having realised two acquisitions in Frankfurt's city center within a few
days, we are fully on track with our operative business', comments Ralph
Jerey, Chief Executive Officer of OperaOne AG. Further project details will
be published upon the successful termination of the planning period.
Frankfurt Westend belongs to the core areas of OperaOne and is one of the
most attractive residential locations in Frankfurt due to its walking
distance to the financial district and close proximity to the city center.
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.
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 a project
pipeline with a volume in the triple-digit range in millions of euros.
Individual projects of this pipeline are to be acquired by pure equity
financing on the part of OperaOne AG.
Contact:
cometis AG
Ulrich Wiehle / 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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22.07.2011 Dissemination of a Corporate News, transmittedby DGAP - a
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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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132830 22.07.2011
Datum: 22.07.2011 - 08:25 Uhr
Sprache: Deutsch
News-ID 34663
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
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