Colonia Real Estate AG / Disposal/Contract
03.09.2009
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Colonia Real Estate AG Sells 1000-Unit Housing Package in Berlin
* conwert Immobilien Invest SE and Kronberg RE Deutschland GmbH acquire
three CRE property management companies
* Transaction volume approx. EUR 67 million - positive contribution to
earnings
Cologne, 3 September 2009 - Colonia Real Estate AG (ISIN DE0006338007) has
successfully signed a sale contract of three of its property holding
companies in Berlin, comprising a total of 937 residential and 79
commercial units. The purchaser is a consortium consisting of conwert
Immobilien Invest SE as lead investor and Kronberg RE Deutschland GmbH.
The residential portfolio comprises renovated and partially renovated flats
in the nation's capital that were constructed mainly in the first decades
of the 20th century. The value of this transaction is approximately EUR 67
million, which is above the book value and therefore will have a positive
contribution to earnings. Along with the property portfolios the buyer will
also take over the existing financing of the real estate portfolio totaling
around EUR 50 million. The closing is planned to be finalized by the end of
September 2009.
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Information and Explaination of the Issuer to this News:
With the properties in Berlin, Colonia Real Estate AG is divesting itself
of a portfolio that shows a history of successful asset management. 'We
were able to reduce the vacancy rate there from 11.4 percent to less than
six percent in a relatively short time. Today's sale is a further signal
for a recovery of the transaction market and a steadily increasing demand
for residential real estate,' noted Stephan Rind, CEO of Colonia Real
Estate. Johann Kowar, CEO of conwert Immobilien Invest SE, sees a strategic
dimension in this transaction. 'Berlin is a primary focus of our investment
activities; we will continue to expand our commitment there,' said Kowar.
Martin Hellweger, CEO of the Kronberg Group, called this 'an important step
in the systematic implementation of our expansion strategy in Germany'.
About Colonia Real Estate AG
With around 20,000 residential units and total assets of approximately 900
million Euros, Colonia Real Estate is Germany's third largest listed
residential property company. The asset management of the CRE Group has
more than 2.1 billion Euros real estate assets under management.
Contact:
Thomas Busch
Head of Investor Relations, Communication and Marketing
Colonia Real Estate AG
Zeppelinstr. 4-8
50667 Cologne, Germany
Phone +49 (0)221 71 60 71 0
Fax +49 (0) 221 71 60 71 99
E-Mail: ir@cre.ag
edicto GmbH
Axel Mühlhaus
Phone +49 (0)69 90 55 05 52
E-Mail: amuehlhaus@edicto.de
03.09.2009 Financial News transmitted by DGAP>
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Language: English
Company: 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
Internet: www.cre.ag
ISIN: DE0006338007
WKN: 633800
Indices: SDAX, GPR 250, MSCI Germany Small Cap Index, FTSE EPRA/
NAREIT, E&G DIMAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Hannover, Düsseldorf, Hamburg, Stuttgart
End of News DGAP News-Service
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