EQS-Adhoc: Peach Property Group acquires portfolio in Kaiserslautern - residential portfolio increases by 40% to 3,150 units, annual target rent reaches CHF 16.2 million
22.08.2016 – 07:05
EQS Group-Ad-hoc: Peach Property Group AG / Key word(s): Real Estate Peach Property Group acquires portfolio in Kaiserslautern - residential portfolio increases by 40% to 3,150 units, annual target rent reaches CHF 16.2 million 22.08.2016 / 07:00 Release of an ad hoc announcement pursuant to Art. 53 KR. -------------------------------------------------------------------------------- Press release Peach Property Group acquires portfolio in Kaiserslautern - residential portfolio increases by 40% to 3,150 units, annual target rent reaches CHF 16.2 million -Purchase agreement for the acquisition of 901 apartments and 10 commercial units notarised in Kaiserslautern -Lettable space of the investment portfolio increases to almost 250,000 square metres -Annual target rental income increases by CHF 4.4 million (up 37%) to CHF 16.2 million -High occupancy rate of over 95% -Closing of the transaction expected in Q4 2016 Zurich, 22 August 2016 - Peach Property Group, an investor specialising in portfolio management in Germany with a focus on residential property, today announced that it is significantly expanding its portfolio by acquiring an additional real estate portfolio in Germany. The agreement to purchase 901 apartments, 10 commercial units and 589 parking spaces in Kaiserslautern with lettable space totalling around 63,400 square metres was notarised on Friday 19 August 2016. The deal increases the total lettable space in Peach Property Group's investment portfolio by 34 percent to almost 250,000 square metres and increases the number of apartments by around 40 percent to approximately 3,150 units. The properties were sold by a large German property company; both parties agreed not to disclose the purchase price. The transaction is subject to suspensive conditions, most of which are outside the Peach Property Group's sphere of influence. The closing of the transaction is expected to take place in the fourth quarter of 2016. The deal marks the successful continuation of Peach Property Group's strategy of strengthening its real estate investment portfolio in the German residential property sector while at the same time increasing current revenue. The new residential portfolio has annual target rent of around CHF 4.4 million (EUR 4.1 million) and generates an actual annual net rent of around CHF 4.1 million (EUR 3.8 million). The acquisition will raise the Group's annual target rent by more than a third to a new high of more than CHF 16.2 million. The new portfolio is spread across a total of 12 sites in Kaiserslautern and is in good structural condition. The overall vacancy rate is less than 5 percent. Dr. Thomas Wolfensberger, CEO of Peach Property Group AG, said: "These properties in Kaiserslautern, most of which were built in the 1970s and 1980s are in good technical condition with high letting levels and represent an attractive addition to our portfolio. This acquisition enables us to increase our annual target rental income by more than 37 percent to over CHF 16 million. Approximately 85 percent of our rental income now comes from residential property. With this addition, we leverage existing market opportunities in Germany's B-cities and continue to expand our portfolio in line with our strategy." 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). For more information, seewww.peachproperty.com End of ad hoc announcement Additional features: Document:http://n.eqs.com/c/fncls.ssp?u=EKVULSKVRT Document title: Press Release -------------------------------------------------------------------------------- 22.08.2016 News transmitted by Tensid EQS AG. www.eqs.com -------------------------------------------------------------------------------- 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 in Frankfurt ; SIX End of News EQS Group News Service -------------------------------------------------------------------------------- 494509 22.08.2016