Peach Property Group AG

EQS-Adhoc: Peach Property Group acquires additional residential portfolio in Germany, increasing holdings to 4,870 residential units


EQS Group-Ad-hoc: Peach Property Group AG  / Key word(s): Real Estate
Peach Property Group acquires additional residential portfolio in Germany,
increasing holdings to 4,870 residential units

29-Sep-2017 / 07:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
The issuer is solely responsible for the content of this announcement.

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Press release

Peach Property Group acquires additional residential portfolio in Germany,
increasing holdings to 4,870 residential units

- Purchase agreement for 273 residential units in Kaiserslautern and Saarbrücken
notarized

- Lettable residential area in total portfolio increases by 12,544 square meters
to 317,513 square meters

- New portfolio is around 94 percent let with actual rental income of around CHF
1 million (EUR 0.9 million) per year

- Annual target rental income increases to CHF 25.1 million

Zurich, 29 September 2017 - Peach Property Group, an investor specialising in
the management of residential property in Germany, has further expanded its real
estate holdings by buying 273 apartments in Kaiserslautern and Saarbrücken. The
purchase agreement for the acquisition of the apartments, which also include 64
parking spaces, was notarized yesterday. As a result, Peach Property Group's
portfolio of residential properties grows by 6 percent to 4,870 units. Lettable
residential area in total will increase by 12,544 square meters to 317,513
square meters. The apartments have been sold by a major German real estate
company; it was agreed not to comment on the purchase price. The transaction is
expected to close by the end of this year.

The majority of the new apartments are located in Kaiserlautern in direct
proximity to the Peach Property Group's existing portfolio. The Group's total
portfolio in Kaiserslautern has increased to a current total of more than 1,100
apartments as a result of the purchase, up from the previous around 900 units.
47 residential units in the new portfolio are located directly in Saarbrücken
city center. Most of the properties have been renovated during the past few
years, and are accordingly in a good structural condition. The portfolio thus
also offers a higher average living quality. Around 94 percent of the portfolio
is let, and it currently generates an annual rental income of CHF 1.0 million
(EUR 0.9 million). Peach Property Group's annual target rental income thus
increases by around one million Swiss francs to now CHF 25.1 million.

Dr. Thomas Wolfensberger, Peach Property Group's CEO, commented: "We have
dynamically further expanded our investment portfolio and our rental income with
the acquisition of the additional apartments in Kaiserslautern and Saarbrücken
as planned. The new apartments have an attractive potential for added value,
which we plan to realise through our active asset management. In addition,
synergy effects result from the efficient management together with the other
apartments which we already own in the region of Kaiserslautern."

Contacts:

Media, investors and analysts

Dr. Thomas Wolfensberger, Chief Executive Officer und 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=YHANGJNMFW
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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614199  29-Sep-2017 CET/CEST
 



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