Colonia Real Estate AG sold through its subsidiary Grasmus Holding
GmbH 1.546 apartments to a British Investor Group for a total of 62
million Euros.
The residential portfolio with locations in Aurich, Sande,
Delmenhorst and Cologne is mainly part of last years acquired Grasmus
Holding BV., based in Maastricht. Colonia Real Estate Group
successfully reduced the vacancy in this portfolio through active
asset management from 14% to 6.5% in the last 15 month and realised a
significant value appreciation above book value.
"Thanks to our professional asset management capabilities we were
able to achieve our business plan targets much earlier than expected,"
comments Stephan Rind, CEO of Colonia Real Estate AG the transaction.
The company continues to build up its residential portfolio
further. As an active portfolio manager also part of its to sell part
of the assets when ever certain value targets are reached. Up to 20 to
30 % or its portfolio will be traded on an annual basis by
privatisations or in block sales.
Colonia Real Estate AG is a listed real estate investment 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 Group
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.
-0-
*T
Contact:
Christoph D. Kauter
Colonia Real Estate AG
Zeppelinstr. 4-8
50667 Koln
Telefon: +49 (0)221 71 60 71 0
E-Mail: kauter@cre.ag
Sylvia Faber
Citigate Dewe Rogerson GmbH
Goethestrasse 26-28
60313 Frankfurt am Main
Tel: 0049-69 90 500 - 100
Fax: 0049-69 90 500 - 101
E-Mail: sylvia.faber@citigatedr.de
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 Listed: Amtlicher Markt in Berlin-Bremen, Frankfurt
(Prime Standard), Dusseldorf; Freiverkehr in Hamburg, Munchen,
Stuttgart
*T
