Colonia Real Estate AG (ISIN DE0006338007) has signed a purchase
contract to acquire 2,199 residential units in Greater Berlin. The
portfolio comprises 121,000 square meters residential and 14,000
square meters office space as well as 1,013 parking lots. The current
vacancy rate is at around 10 percent. The portfolio was acquired for a
multiple of 10.9 times the net rental income of around Euro 6.61
million per year. The purchase price is to Euro 72.50 million or an
equivalent of Euro 537,- per square meter. Over the last years, the
acquired portfolio got substantially redeveloped and renovated for
Euro 74 million. This transaction fits in line with Colonia Real
Estate AG's recent transactions as well as their financial structures.
The closing of the transaction is expected to take place this year.
Colonia Real Estate increases therefore its residential holdings
in the promising area of Greater Berlin to 4,700 units. The total
residential holdings of the group increases to around 9,000 units. The
active real estate asset management will be taken over by the local
specialist team Resolution GmbH, Colonia Real Estate's Asset
Management subsidiary, which reduced already after a short time the
vacancy of the recently acquired Berlin portfolio 'Helle Aue'
significantly from 22 percent to currently 17 percent.
Information and Explaination of the Issuer to this News:
'We see further upside potential on residential real estate in
Berlin and we are convinced about the value potential of the currently
acquired portfolios. Cost reductions and an active management will
reduce vacancy over time and enhance cash-flows substantially',
comments Stephan Rind, CEO of Colonia Real Estate. The company plans,
as announced, further acquisitions in residential real estate,
especially in Berlin.
About Colonia Real Estate AG
Colonia Real Estate AG (Reuters: KBUG.DE / Bloomberg: KBU GY) is a
listed real estate investment and management group focusing on the
German market. Its integrated business model consists of three
synergistic cornerstones: The Investment Division concentrates on
high-yield residential property portfolios held for the company's
account and opportunistic co-investments in commercial real estate
together with prominent partners. Resolution GmbH specializes in asset
management for the Group as well as for complex domestic real estate
portfolios held by international investors, whom it also advises on
transactions. The focus is on yield optimization and realizing
appreciation potential. CRE Fonds Management GmbH's core business is
the conception, the marketing and the management of structured
investment products such as closed-end real estate funds for
institutional investors and private clients.
This news release contains forward looking statements based on
current assumptions and forecasts made by Colonia Real Estate AG
management. Various know and unknown risks, uncertainties and other
factors could lead to material differences between the actual future
results, financial situation, development or performance of the
company and the estimates given here. The company assumes no liability
whatsoever to update these forward-looking statements or to conform
them to future events or developments.
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Contact:
Christoph D. Kauter Head of Investor Relations
Colonia Real Estate AG
Zeppelinstr. 4-8 50667 Koln
Telefon: +49 (0)221 71 60 71 0
Fax: +49 (0) 221 71 60 71 99
E-Mail: ir@cre.ag
Sylvia Faber
Citigate Dewe Rogerson
GmbH GoethestraBe 26-28 60313
Frankfurt am Main
Tel: 0049-69 90 500 - 100
Fax: 0049-69 90 500 - 101
E-Mail: sylvia.faber@citigatedr.de
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Language: English
Issuer: Colonia Real Estate AG
Zeppelinstr. 4 - 8 50667
Koln Deutschland
Phone: 0221-716071-0
Fax: 0221-716071-99
E-mail: info@cre.ag
WWW: www.cre.ag
ISIN: DE0006338007
WKN: 633800
Indices: SDAX, GPR 250, MSCI Germany Small Cap Index, FTSE EPRA/
NAREIT, E&G DIMAX
Listed: Amtlicher Markt in Berlin-Bremen, Frankfurt
(Prime Standard), Dusseldorf; Freiverkehr in Hamburg,
Munchen, Stuttgart
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