DGAP-News: POLIS Immobilien sells its Torstrasse office building in Stuttgart

POLIS Immobilien AG / Disposal

14.04.2008 

Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
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POLIS Immobilien sells its Torstrasse office building in Stuttgart 

- Building purchased in February 2007 and rented out long-term to  Barmer
Ersatzkasse
- Gains on sale confirm business model and valuation 

Berlin, 14. April 2008 – POLIS Immobilien AG [ISIN: DE0006913304, WKN:
691330] has sold its office property at Torstrasse 15 in Stuttgart for
approximately EUR 18.2 million and expects to generate a gain of EUR 1
million over the current book value of the property after fulfilling its
obligations under the sales agreement. The specialist in upgrading and
managing office real estate acquired the building in February 2007 and
later concluded a long-term lease with Barmer Ersatzkasse, one of the
largest statutory health care funds in Germany. POLIS will modernize the
building, thus enabling the tenant to move in in 2009. POLIS had already
reported one valuation gain on the property as of 31.12.2007.

The commercial building (with its 6,300 square meter rental space) was
placed by HIH Hamburgische Immobilien Handlung GmbH with a fund of
Warburg-Henderson Kapitalanlagegesellschaft in connection with an asset
management mandate. The private bank, Ellwanger & Geiger, served as an
advisor to the buyer.

'We were able to prove once again that POLIS invests in the right
properties and can create value through its letting operations and
expertise in modernizing commercial buildings,' Dr. Alan Cadmus, Chief
Executive Officer of POLIS Immobilien AG. 'This transaction is part of our
moderate buy and sell strategy. By selling select properties from time to
time, we capture the gains in valuation we have generated and produce
earnings which can be paid as dividends to our shareholders.' The
transaction will be reflected in the Company’s financial statements for the
1st quarter 2008.


POLIS Immobilien AG is a listed real estate company, founded in Berlin in
1998, which buys, refurbishes and manages office properties in prime
central business districts in the leading German cities. The company
acquires properties which are either renovated and have a high occupancy
rate, thus generating a stable cash flow over time, or office buildings
which are in need of refurbishment and present an opportunity for a
meaningful appreciation in value.  Following renovation or refurbishment,
the company seeks to generate additional returns for its shareholders with
a moderate degree of property sales. POLIS currently owns and manages 35
investment properties with a fair market value of approximately EUR 300
million. All of the company’s properties have been awarded a rating of 'A'
(=very good) or 'B' (=above average) by Feri Rating & Research AG. Since
its successful initial public offering in March 2007, POLIS shares have
been listed on the official market (Prime Standard) of the Frankfurt Stock
Exchange.


Investor Relations:
Roger Sturm
POLIS Immobilien AG
Tel: +49 30 85 62 17-27
E-Mail: r.sturm@polisag.de

Pressekontakt:
Grit Pauli
HOSCHKE & CONSORTEN Public Relations GmbH
Tel: +49 40 36 90 50-31
E-Mail: g.pauli@hoschke.de


DGAP 14.04.2008 
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Language:     English
Issuer:       POLIS Immobilien AG
              Potsdamer Straße 58
              10785 Berlin
              Deutschland
Phone:        +49-30-85 62 17-0
Fax:          +49-30-85 62 17-49
E-mail:       info@polisag.de
Internet:     www.polisag.de
ISIN:         DE0006913304
WKN:          691330
End of News                                     DGAP News-Service
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