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WESTGRUND Aktiengesellschaft: acquires an additional property portfolio with 2,800 units 'off-market'
939 
0 KommentareWESTGRUND Aktiengesellschaft / Key word(s): Mergers & Acquisitions/Real Estate
31.12.2014 10:57
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Berlin, 31.12.2014. WESTGRUND AG, Berlin, continues on its growth path with
a further acquisition of a residential portfolio with a total of 2,781
units. The purchase was executed under exclusivity and away from a
structured bidding process. In total the portfolio comprises 2,696
residential and 85 small commercial units (within the residential
properties).
The new portfolio is situated mainly in the federal states of Lower Saxony
and Saxony, with smaller parts in Thuringia and Schleswig-Holstein. It
therefore complements the existing WESTGRUND portfolio very well.
The portfolio generates c. EUR 9 million in annual net cold rent out of c.
172,000 sqm, and offers substantial value increase potential due to both
the attractive purchase price and the existing vacancy level of around 14%.
To support the initial vacancy reduction, the seller has committed to
provide a capex budget of a couple of million Euro. WESTGRUND will solely
steer and control how these funds are deployed to maximise efficiency. Net
initial rental yield is around 9%, based on the purchase price.
Closing of the deal is expected during the first half of 2015.
Contact:
WESTGRUND AG
Management board: Arndt Krienen, Sascha Giest
E-Mail: vorstand@westgrund.de
Westgrund AG
Joachimsthaler Straße 34
10719 Berlin
Deutschland
Telephone:+49 30 2000 914 20
Facsimile: +49 30 6396192 28
About Westgrund AG:
WESTGRUND AG is a real estate company based in Berlin. With a clear focus
on housing, the company buys, manages, and develops residential portfolios
with appreciation potential in various regions in Germany that are marked
by auspicious and sound micro-environments. The company takes an active
asset management approach to raise the value-add in sustainable ways. The
company's assets are concentrated in the Berlin metro area, Lower Saxony
and the region of Halle, Leipzig.
31.12.2014 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: WESTGRUND Aktiengesellschaft
Joachimsthaler Strasse 34
10719 Berlin
Germany
Phone: +49 30 2000 914 20
Fax: +49 30 639 619 228
E-mail: krienen@westgrund.de
Internet: www.westgrund.de
ISIN: DE000A0HN4T3
WKN: A0HN4T
Listed: Regulierter Markt in Düsseldorf, Frankfurt (Prime Standard);
Freiverkehr in Berlin, Hamburg, Stuttgart
End of Announcement DGAP News-Service
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a further acquisition of a residential portfolio with a total of 2,781
units. The purchase was executed under exclusivity and away from a
structured bidding process. In total the portfolio comprises 2,696
residential and 85 small commercial units (within the residential
properties).
The new portfolio is situated mainly in the federal states of Lower Saxony
and Saxony, with smaller parts in Thuringia and Schleswig-Holstein. It
therefore complements the existing WESTGRUND portfolio very well.
The portfolio generates c. EUR 9 million in annual net cold rent out of c.
172,000 sqm, and offers substantial value increase potential due to both
the attractive purchase price and the existing vacancy level of around 14%.
To support the initial vacancy reduction, the seller has committed to
provide a capex budget of a couple of million Euro. WESTGRUND will solely
steer and control how these funds are deployed to maximise efficiency. Net
initial rental yield is around 9%, based on the purchase price.
Closing of the deal is expected during the first half of 2015.
Contact:
WESTGRUND AG
Management board: Arndt Krienen, Sascha Giest
E-Mail: vorstand@westgrund.de
Westgrund AG
Joachimsthaler Straße 34
10719 Berlin
Deutschland
Telephone:+49 30 2000 914 20
Facsimile: +49 30 6396192 28
About Westgrund AG:
WESTGRUND AG is a real estate company based in Berlin. With a clear focus
on housing, the company buys, manages, and develops residential portfolios
with appreciation potential in various regions in Germany that are marked
by auspicious and sound micro-environments. The company takes an active
asset management approach to raise the value-add in sustainable ways. The
company's assets are concentrated in the Berlin metro area, Lower Saxony
and the region of Halle, Leipzig.
31.12.2014 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: WESTGRUND Aktiengesellschaft
Joachimsthaler Strasse 34
10719 Berlin
Germany
Phone: +49 30 2000 914 20
Fax: +49 30 639 619 228
E-mail: krienen@westgrund.de
Internet: www.westgrund.de
ISIN: DE000A0HN4T3
WKN: A0HN4T
Listed: Regulierter Markt in Düsseldorf, Frankfurt (Prime Standard);
Freiverkehr in Berlin, Hamburg, Stuttgart
End of Announcement DGAP News-Service
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