EQS-Adhoc

Peach Property Group acquires 1,114 apartments in North Rhine-Westphalia - consolidated target rent increases by 35 percent to CHF 22 million p.a.

EQS Group-Ad-hoc: Peach Property Group AG / Key word(s): Real Estate Peach Property Group acquires 1,114 apartments in North Rhine-Westphalia - consolidated target rent increases by 35 percent to CHF 22 million p.a. 15-March-2017 / 07:00 CET/CEST Release of an ad hoc announcement pursuant to Art. 53 KR Press release Peach Property Group acquires 1,114 apartments in North Rhine-Westphalia - consolidated target rent increases by 35 percent to CHF 22 million p.a.

- Purchase agreement for a residential portfolio with approx. 73,000 m² of residential space in Oberhausen and Duisburg has been certified, rentable residential space increases to more than 283,500 m²

- Peach Property Group's portfolio of residential properties grows by more than one third to around 4,243 units

- Target rental income of CHF 5.7 million p.a.

- Attractive residential properties with buildings in excellent condition and high rental levels of around 95 percent

Zurich, 15 March 2017 - Peach Property Group has increased its real estate portfolio by more than one third to a total of 4,243 residential units by acquiring 1,114 apartments in North Rhine-Westphalia. The rentable residential space in the group's entire real estate portfolio has thus increased by around 73,000 square meters to approx. 283,500 square meters. Annual target rental income for Peach Property Group has increased by CHF 5.7 million to CHF 22 million as a result of the purchase. The corresponding purchase agreement was certified by the notary yesterday, and closing is scheduled for the first half of 2017. The properties are being sold by a major German real estate company; it has been agreed not to disclose the purchase price.

The new portfolio, which also includes 679 parking bays, is mostly located in the district Alt-Oberhausen of Oberhausen, close to Essen and Düsseldorf. 47 apartments are located in nearby Duisburg. The buildings are in excellent condition, which means that no major renovation work is required. Around 95 percent of the units have been let and the portfolio currently generates annual rent of CHF 5.4 million (EUR 5.0 million).