Peach Property Group AG

EQS-Adhoc: Peach Property Group expands real estate portfolio in North Rhine-Westphalia


EQS Group-Ad-hoc: Peach Property Group AG  / Key word(s): Real Estate
Peach Property Group expands real estate portfolio in North Rhine-Westphalia

13-Jul-2017 / 07:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
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Press release

Peach Property Group expands real estate portfolio in North Rhine-Westphalia

- Acquisition of 85 fully-let residential units in Mülheim an der Ruhr as a
complement to portfolio in North Rhine-Westphalia

- Direct proximity to portfolio in Oberhausen; joint management increases
efficiency

- Peach Property Group's portfolio of residential units grows to 4,328 units

- Annual target rental income of the entire investment portfolio increases to
CHF 22.4 million

Zurich, 13 July 2017 - Peach Property Group, an investor specialising in the
management of residential property in Germany, is further expanding its real
estate portfolio in North Rhine-Westphalia. The acquisition of 85 apartments in
Mülheim an der Ruhr, in direct proximity to the recently acquired portfolio in
Oberhausen, takes the number of residential units on Peach Property Group's
books to a total of 4,328 units. The corresponding purchase agreement has been
recently notarized and the transaction is expected to be completed in September
2017. It has been agreed not to disclose the purchase price.

The newly acquired apartments offer residential space of around 6,800 m2and are
fully let. The annual net base rent totals around EUR 500 thousand (almost CHF
540 thousand). Most of the residential units have been renovated during the past
few years and are thus in good structural condition. The apartments are in a
centrally located building complex surrounded by an attractive outdoor area
within a spacious park-like garden.

Dr. Thomas Wolfensberger, Peach Property Group's CEO, commented: "This purchase
in Mülheim increases the number of residential units on our books to more than
4,300 with an annual target income of the entire investment portfolio to CHF
22.4 million and it supplements the residential portfolio we recently acquired
in Oberhausen. The proximity of the portfolios and the fact that we will jointly
manage these will allow for efficiency gains."

Contacts:

Media, investors and analysts

Dr. Thomas Wolfensberger, Chief Executive Officer and Dr. Marcel Kucher, Chief
Financial Officer

+41 44 485 50 00 | investors@peachproperty.com

Media Germany

edicto GmbH, Axel Mühlhaus, Peggy Kropmanns

+49 (0) 69 90 55 05 52 | amuehlhaus@edicto.de

 

About Peach Property Group AG

Peach Property Group is a property investor and developer focused on investments
in Germany and Switzerland. The Group stands for long time experience,
competence and quality. Innovative solutions for modern housing needs, strong
partnerships and a wide value chain complete the profile of the Group. The
portfolio consists of an increasing number of high yield investment properties,
typically in B-cities in close reach to metropolitan areas. In addition, the
Group develops properties for its own portfolio or for the sale as condominium.
Developments for sale focus on A-locations and encompass attractive architecture
and high level furnishing for an international clientele. The business
activities of the Group cover the entire value chain, from property acquisition
and site selection to active asset management and finally to the sale or lease
of properties.

Peach Property Group AG is headquartered in Zurich and has its German Group
headquarters in Cologne. Peach Property Group AG is listed on the SIX Swiss
Exchange (PEAN, ISIN CH0118530366). Its Board of Directors consists of Reto
Garzetti (President), Peter Bodmer and Dr. Christian De Prati.

For more information, seewww.peachproperty.com

 

 

Additional features:


Document:http://n.eqs.com/c/fncls.ssp?u=KPBPLGJFEW
Document title: Press Release
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End of ad hoc announcement------------------------------------------------------

Language: English

Company:  Peach Property Group AG

          Seestrasse 346

          8038 Zürich

          Switzerland

Phone:    +41 44 485 50 00

Fax:      +41 44 485 50 11

E-mail:investors@peachproperty.com

Internet: www.peachproperty.com

ISIN:     CH0118530366

Valor:    A1C8PJ

Listed:   Regulated Unofficial Market in Berlin, Stuttgart; Open Market (Basic
Board) in Frankfurt; SIX Swiss Exchange



 

End of Announcement EQS Group News Service

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592263  13-Jul-2017 CET/CEST
 



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