EQS-Adhoc
Peach Property Group to acquire two portfolios with 636 apartments in North Rhine-Westphalia
EQS Group-Ad-hoc: Peach Property Group AG / Key word(s): Real Estate
Peach Property Group to acquire two portfolios with 636 apartments in
North Rhine-Westphalia
27.03.2015 / 07:01
Release of an ad hoc announcement pursuant to Art. 53 KR.
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------
Press release
Peach Property Group to acquire two portfolios with 636 apartments in North
Rhine-Westphalia
- Expansion of the standardised, value-enhancing investment property
portfolio in line with the business strategy
- Number of apartments owned by Peach Property Group to increase by 72%
to over 1,500
- Target rent to rise by around CHF 2.25 million or 20 percent to approx.
CHF 12 million
- Reduction of the currently high vacancy rate through active asset
management and progressive updating of all apartments planned over the
next 24 months
- Renovation of the first 110 apartments already underway and scheduled
to be completed in summer 2015
Zurich, 27 March 2015 - Peach Property Group, a leading investor in
residential and commercial real estate, today announced the notarisation of
an agreement for the purchase of two property companies. Under this
agreement, Peach Property will acquire two portfolios with a total of 636
apartments located north of Düsseldorf in western North Rhine-Westphalia.
This will enable Peach Property Group to push ahead with its strategy of
increasing the focus on the residential side of its investment property
portfolio in conjunction with standardised value creation. The acquisition
will raise the number of apartments in Peach Property Group's portfolio by
72 percent to 1,520 units and increase the lettable floor area by 44,000
square metres to over 100,000 square metres. The annual target rent is
around CHF 2.25 million (EUR 2.1 million); on account of the vacancies,
actual rent is currently CHF 0.9 million (EUR 0.85 million). Altogether,
Peach Property Group's annual target rental income will therefore increase
to over CHF 12 million. The parties agreed not to disclose the purchase
price. The final closing of the transaction is expected to occur in the
coming six to eight weeks.
The portfolios of rental apartments in the mid-price segment are divided
among three sites in the greater Düsseldorf area. Currently, the portfolios
Press release
Peach Property Group to acquire two portfolios with 636 apartments in North
Rhine-Westphalia
- Expansion of the standardised, value-enhancing investment property
portfolio in line with the business strategy
- Number of apartments owned by Peach Property Group to increase by 72%
to over 1,500
- Target rent to rise by around CHF 2.25 million or 20 percent to approx.
CHF 12 million
- Reduction of the currently high vacancy rate through active asset
management and progressive updating of all apartments planned over the
next 24 months
- Renovation of the first 110 apartments already underway and scheduled
to be completed in summer 2015
Zurich, 27 March 2015 - Peach Property Group, a leading investor in
residential and commercial real estate, today announced the notarisation of
an agreement for the purchase of two property companies. Under this
agreement, Peach Property will acquire two portfolios with a total of 636
apartments located north of Düsseldorf in western North Rhine-Westphalia.
This will enable Peach Property Group to push ahead with its strategy of
increasing the focus on the residential side of its investment property
portfolio in conjunction with standardised value creation. The acquisition
will raise the number of apartments in Peach Property Group's portfolio by
72 percent to 1,520 units and increase the lettable floor area by 44,000
square metres to over 100,000 square metres. The annual target rent is
around CHF 2.25 million (EUR 2.1 million); on account of the vacancies,
actual rent is currently CHF 0.9 million (EUR 0.85 million). Altogether,
Peach Property Group's annual target rental income will therefore increase
to over CHF 12 million. The parties agreed not to disclose the purchase
price. The final closing of the transaction is expected to occur in the
coming six to eight weeks.
The portfolios of rental apartments in the mid-price segment are divided
among three sites in the greater Düsseldorf area. Currently, the portfolios
Diskutieren Sie über die enthaltenen Werte
Aktuelle Themen
Weitere Artikel des Autors
1 im Artikel enthaltener WertIm Artikel enthaltene Werte