Eastern Property Holdings announces disposal of 100% of its office building Petrovsky Fort in St. Petersburg

Eastern Property Holdings Limited (EPH) / Eastern Property Holdings announces disposal of 100% of its office building Petrovsky Fort in St. Petersburg . Processed and transmitted by NASDAQ OMX Corporate Solutions. The issuer is solely responsible for the content of this announcement.

01 October 2014, Road Town, Tortola, BVI

Eastern Property Holdings ("EPH" or the "Company") announces the disposal of its Class B office and retail property in St. Petersburg. The transaction price for 100% of the property amounts to US$ 51 million adjusted for external financing. This transaction is in-line with the Company's strategy to invest in income-producing office properties in Moscow. 

Petrovsky Fort has nine office and two retail levels with a large central atrium. Of the total net rentable area, approximately 15,000 square meters are designated for office use and about 6,000 square meters as retail space. The building has an underground parking facility with 119 parking spaces and above-ground parking for 36 cars.

 

Eastern Property Holdings Ltd. is an investment company listed on SIX Swiss Exchange which holds interest in office, residential and retail properties principal in Moscow. EPH is managed by Valartis International Ltd. a wholly-owned subsidiary of Valartis Group AG.

Additional information on Eastern Property Holdings is available by contacting Anna Bernhart Tel: [phone].

EPH_Disposal of Petrovsky Fort

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The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Eastern Property Holdings Limited (EPH) via Globenewswire

HUG#1859850

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Eastern Property Holdings Limited (EPH)
Valartis Asset Management SA Geneva Switzerland

WKN: 250817;ISIN: VGG290991014;