DGAP-Adhoc

Peach Property Group announces notarisation of sales agreement for 'Am Zirkus 1' project in Berlin

Peach Property Group AG / Key word(s): Real Estate

07.10.2014 07:02

Release of an ad hoc announcement pursuant to Art. 53 KR
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Press release

Peach Property Group announces notarisation of sales agreement for "Am
Zirkus 1" project in Berlin

Zurich, 7 October 2014 - Peach Property Group a leading property investor
and developer of high-end residential and commercial real estate, today
announced the notarisation of the agreement to sell its major "Am Zirkus 1"
project in Berlin to a special property fund of KanAm Grund. Situated in a
unique location right on the banks of the Spree river, the building was
developed in an 80:20 joint venture together with Deutsche Immobilien AG
(DIAG) (Peach share: 80 percent). The building received silver
certification from the German Sustainable Building Council (DGNB). On an
area of around 11,000 square metres, it hosts a 4 star "Leonardo" hotel
with 309 rooms. The designer hotel, which opened in August 2014, is
operated by the Fattal Group. The building also comprises commercial and
office space with a total gross floor area of around 5,000 square metres.
The anchor tenant is Roland Berger Strategy Consultants, one of the world's
leading strategy consulting firms.

Both parties agreed not to disclose the purchase price. The execution of
the sale is subject to the fulfilment of several qualitative conditions,
some of which are outside the control of Peach Property Group. Based on
today's knowledge, fulfilling these conditions will take at least two to
four months. The execution of the sale will allow Peach Property Group to
generate a cash flow of CHF 10 to CHF 12 million.

Peach Property Group was advised by Taylor Wessing and CBRE in this
transaction.

Contacts:

Media, investors and analysts
Dr. Thomas Wolfensberger, Chief Executive Officer and Dr. Marcel Kucher,
Chief Financial Officer
[phone] | [e-mail]


Media Germany
edicto GmbH, Axel Mühlhaus, Peggy Kropmanns
[phone] | [e-mail]

About Peach Property Group AG

Peach Property Group AG is a property investor and developer focused on
investments in Switzerland and Germany. The portfolio includes an
increasing number of investment properties that are designed to generate
sustained income as well as attractive residential development properties.
The Group's activities cover the entire value chain, from site evaluation
to project planning, implementation and marketing. In the investment
segment, the Group is focused on properties with a potential for achieving