Vivacon AG

VIVACON AG sells further 615 residential units under ground lease terms

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real estate

Köln (euro adhoc) - VIVACON AG (ISIN DE0006048911) has sold further 615 residential units with a total living space of 31,450 sqm under ground lease terms. VIVACON will generate an initial annual ground lease cash flow of EUR 0.5m from this transaction. The gound lease contracts are German CPI indexed and have an initial maturity of 198 years. As a result of today´s transaction, the annual ground lease cash flows of the Company will increase to approximately EUR 14m.

Since the beginning of 2007, VIVACON AG has acquired approximately 17,400 units and has sold some 12,700 units. Following this transaction, VIVACON AG owns some 7,300 units, of which the majority is currently prepared for a disposal in 2008 by the asset management of the Company. Another c. 4,400 units are held by the joint venture company WIAG, founded by Vivacon AG and Forum Partners.

The management reiterates its communicated full-year guidance of a net income of EUR 54-58m.

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ots Originaltext: Vivacon AG
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Further inquiry note:
Sven Annutsch
Head Investor Relations & Corporate Finance
Tel: + 49 221 / 1305621 630

Branche: Real Estate
ISIN:      DE0006048911
WKN:        604891
Index:    SDAX, CDAX, Classic All Share, Prime All Share
Börsen:  Börse Frankfurt / regulated dealing/prime standard
              Börse Berlin / free trade
              Börse Hamburg / free trade
              Börse Stuttgart / free trade
              Börse Düsseldorf / free trade
              Börse München / regulated dealing

Weitere Meldungen: Vivacon AG

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