Colonia Real Estate AG / Acquisition
30.05.2007
Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.
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Colonia Real Estate AG takes over 70% on accentro real estate GmbH -
strategic addition on residential real estate asset management and
privatization
Cologne, 30 May 2007 - Colonia Real Estate AG (ISIN DE0006338007) signed
today a letter of intend to acquire 70% of the Stuttgart based accentro
real estate GmbH. The 1998 founded accentro is one of the leading
pan-German service providers on residential privatization and asset
management. accentro is a synergetic supplement for Colonia Real Estates
successful asset management. Besides the expansion and intensification of
services for third parties, the company amends Colonia´s pan-German network
through its office presence in Munich, Stuttgart and Wiesbaden. Through
this acquisition, Colonia Real Estate AG gets access to the network and the
ressources of its new subsidiary in the strong growing south of Germany.
Amongst others, accentro possesses a high expertise in 'due diligence' for
residential real estate and will take over this part for Colonia Real
Estate AG in the future. This inhouse knowledge will save Colonia a six
digit amount on an annual basis.
accentro has already been assigned from Allianz Wohneigentum, AMB Generali,
Bayerische Städtebau, DIBAG, Deutsche Annington and others. The transaction
volume in 2005 and 2006 totalled EUR 36mn. Early 2007, accentro could
acquire its largest ever single privatization mandate with a volume of EUR
84mn. The total current contract volume for privatization on their books is
more then EUR 110mn.
The closing for this transaction is planed in the first half 2007. The
purchase price was undisclosed.
'With the acquisition of the accentro real estate GmbH we enhance our
capacities on the asset management and privatization of residential real
estate and expand our pan-German network with offices in München, Stuttgart
und Wiesbaden', says Colonia´s CEO Stephan Rind. 'With our grown
residential portfolio, we see a huge synergy potential for both companies.'
Jacopo Mingazzini, CEO and speaker of accentro real estate GmbH adds: 'The
co-operation with Colonia discloses new opportunities to us. We are
convinced that our know-how on residential real estate and privatization
will further increase Colonia´s potential capacity. The joint-optimization
of the value-added chain will increase the development of both companies.'
About Colonia Real Estate AG
Colonia Real Estate AG (Reuters: KBUG.DE / Bloomberg: KBU GY) is a listed
real estate investment and management company focusing on the German
market. Its integrated business model consists of three synergistic
cornerstones: The Investment Division focuses 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 has operations across Germany and specializes in asset
management for the Group as well as for supraregional real estate
portfolios held by international investors, whom it also advises on
transactions. The focus is on yield optimization and the realization of
appreciation potential. CRE Fonds Management GmbH's core business is the
conception, marketing and management of structured investment products such
as closed-end real estate funds for institutional investors and private
clients.
Contact:
Christoph D. Kauter
Head of Corporate Finance and Investor Relations
Colonia Real Estate AG
Zeppelinstr. 4-8
50667 Köln
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
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
DGAP 30.05.2007
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Language: English
Issuer: Colonia Real Estate AG
Zeppelinstr. 4 - 8
50667 Köln Deutschland
Phone: +49 221-716071-0
Fax: +49 221-716071-99
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),
Düsseldorf; Freiverkehr in Hamburg, München, Stuttgart
End of News DGAP News-Service
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