Vivacon AG

euro adhoc: Vivacon AG
VIVACON AG sells its largest residential portfolio so far, consisting of 5,662 units, for c. EUR 220m

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Cologne, 11th June 2007. VIVACON AG (ISIN 000604 8911) has today sold its largest residential property portfolio so far to an international institutional investor. The number of total units sold amounts to 5,662 with a total area of approximately 356,260 sqm. The units are located predominantly in Northern Germany as well as in Berlin, Bavaria and North Rhine-Westphalia.

The sale volume amounts to approximately EUR 220m. In addition, VIVACON AG will generate initial annual ground rents of some EUR 0.9m from this transaction. The ground lease contracts have an initial maturity of 198 years. The transaction takes the form of a sale of shares in special purpose vehicles. The closing of this transaction is still subject to cartel authority approval.

The properties were acquired predominantly in 2007 in a number of transactions and have been managed and optimised for sale by the asset management team of VIVACON AG.

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ots Originaltext: Vivacon AG
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Further inquiry note:
For further information:
Lars Schriewer
Director Communication
Tel: + 49 221 / 1305621 631

Sven Annutsch
Head Corporate Finance
Tel: + 49 221 / 1305621 630

Vivacon AG
Bayenthalgürtel 4
50968 Köln
Fax: + 49 221 / 1305621 950

Branche: Real Estate
ISIN:      DE0006048911
WKN:        604891
Index:    CDAX, SDAX, Prime All Share, Classic All Share
Börsen:  Frankfurter Wertpapierbörse / official dealing/prime standard
              Börse Berlin-Bremen / free trade
              Hamburger Wertpapierbörse / free trade
              Baden-Württembergische Wertpapierbörse / free trade
              Börse Düsseldorf / free trade
              Bayerische Börse / official dealing

Weitere Meldungen: Vivacon AG

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