POLIS Immobilien AG / Miscellaneous
05.05.2008
Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Total acquisition costs total approximately EUR 4.8 million
Feri assigns property rating of A ('very good')
Prime location expected to foster attractive returns
Berlin, 5 May 2008 POLIS Immobilien AG [ISIN: DE0006913304/ WKN: 691330],
a specialist in modernizing and managing office buildings in German central
business districts, announces another successful acquisition in Hamburg.
The Berlin company bought the office building for around EUR 4.8 million;
the value of the companys entire portfolio of real estate properties
totals approximately EUR 300 million. The seller was the Lutheran Trust,
Saint Jakobs. The transaction was brokered by Engel & Voelkers.
The seven storey building was built in the mid 1920s with a traditional red
brick facade and thick walls and was completely renovated in 1994. The
building provides rentable space of around 2,700 square meters and six
parking spaces. POLIS bought the building completely vacant. Feri Rating &
Research AG assigned the property a rating of A (= very good). The office
building is located in Hamburgs historic center within walking distance of
the main train station, the court house building and the prominent shopping
mile Moenckebergstrasse. 'We focus on high quality buildings in good
locations which can be leased again and again,' said Dr. Alan Cadmus, CEO
of POLIS Immobilien AG. 'Our clear focus provides our investors with the
opportunity to generate an attractive return at a moderate risk. We
intentionally acquired the vacant rental space in the Steinstrasse, and we
plan to quickly find tenants for the building in order to produce valuation
gains.'
POLIS expects to generate a yield on the total acquisition costs of 6.5%
once the rental space has been leased. The Berlin company invests
exclusively in office buildings in good locations in Germanys leading
business centers.
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 companys 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
Press Contact:
Grit Pauli
HOSCHKE & CONSORTEN Public Relations GmbH
Tel: +49 40 36 90 50-31
E-Mail: g.pauli@hoschke.de
DGAP 05.05.2008
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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
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Hamburg, München
End of News DGAP News-Service
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DGAP-News: POLIS Immobilien announces further acquistion in Hamburg: 2,700 square meter office building in central business district purchased
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