DGAP-News

IMMOFINANZ acquires the 'Production Technology Cluster' Project in Aachen

DGAP-News: IMMOFINANZ AG / Key word(s): Real Estate
IMMOFINANZ acquires the 'Production Technology Cluster' Project in
Aachen

24.11.2014 / 11:50

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IMMOFINANZ Group has acquired the "Production Technology Cluster"
development project on the RWTH Aachen Campus from the German capricorn
Group and plans to complete construction by autumn 2016. With 28,000 sqm of
rentable space, the Campus currently represents the largest cluster
building in the Campus Melaten expansion sector of RWTH Aachen University
(Rheinisch-Westfälische-Technische Hochschule).

This acquisition involves the takeover of the project company, capricorn
CAMPUS GmbH & Co. KG, as well as all relevant planning contracts by
IMMOFINANZ. The parties have agreed not to disclose any information on the
purchase price for the transaction. The total investment volume is
estimated at approx. EUR 63 million. Construction will start in spring
2015, and completion is scheduled for autumn 2016.

"The Campus project has a high share of pre-rentals and long-term leases.
Contracts have already been signed for more than 50% of the rental areas
and, with the previously registered space requirements, we have already
reached an occupancy level of roughly 80%", indicated Eduard Zehetner, CEO
of IMMOFINANZ Group. "This represents the next step in the announced
expansion of IMMOFINANZ Group's development business in Germany."

Günther Schuh, Managing Director of RWTH Aachen Campus GmbH added: "We are
pleased to have found a strong and highly competent partner in IMMOFINANZ.
These experts immediately recognised the strategic dimension of our Campus
project."

With the RWTH Campus, RWTH Aachen is continuing its transformation into one
of the world's leading technical universities. One of the largest
technology-oriented research landscapes in Europe is currently under
development at the RWTH Aachen in 19 research clusters on 800,000 sqm.

The first development section in the Production Technology Cluster is a
three-section building complex, which includes offices and hall facilities.
The building complex, which was designed by the Munich star architect Henn,
is characterised by flexibility, a modular layout and sustainability and
will provide nearly 800 scientists and production technology experts with
space for their research.

On IMMOFINANZ Group
IMMOFINANZ Group is one of the leading listed property companies in Europe.
The company is included in the leading ATX index of the Vienna Stock