Dissemination of an Ad hoc announcement according to § 15 WpHG
ESTAVIS AG Completes Housing Portfolio Purchase
Berlin, 28 October 2014 – Today, ESTAVIS AG completed the acquisition of a real estate portfolio with property holdings across Germany as announced in early March 2014 by paying the purchase price. Extensive parts of the existing portfolio were refinanced within the framework of this transaction. The acquired portfolio has a fair market value of approximately 190 million euros, and includes around 4,300 units with a combined floor area of about 284,000 square metres. The annual net rent total currently equals approximately 13.7 million euros. Around 3,300 units thereof are earmarked for long-term ownership. The remaining units, totaling roughly 1000, will be retailed as condominiums.
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Estavis AG is a listed property company focusing on residential real estate. The company selectively acquires residential portfolios with the intention of holding these assets long-term. Accentro, a subsidiary of Estavis and the Group's other mainstay, is the market leader in housing privatisation services in Germany. Estavis AG is headquartered in Berlin and is listed on the Prime Standard of the Frankfurt Stock Exchange (German Securities Code Number [WKN]: A0KFKB).
Investor & Public Relations
Tel: + 49 30 887 181 799
E-mail: ir (at) estavis.de