MAGNAT Real Estate Opportunities GmbH & Co. KGaA / Disposal
02.10.2008
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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Premature closing of forward sale of Ukrainian trophy investment 'Peremogi
67'
- Attractive developer returns of well over 15% p.a. secured
- The net asset value of MAGNAT thus rises to EUR 1.99 per share
Frankfurt am Main, 2 October 2008 - MAGNAT Real Estate Opportunities GmbH &
Co. KGaA (ISIN: DE000A0J3CH0) has - in accordance with the press release
for the signing of 21 August 2008 - sold its share in the 'Prospect
Peremogi 67' project in the Ukrainian capital Kiev in the course of a
forward sale. The buyer is the renowned Austrian based AKRON GROUP
('AKRON').
The closing for this project has been signed prematurely. The transaction
will be recognised after completion of the project in 2010. After
completion MAGNAT reckons with a net profit from this investment in the
high single-digit million range.
Due to the contractual security of this transaction and to increase the
transparency of the value of the portfolio, the net asset value of MAGNAT
has been adjusted by the expected profit and thus increases to EUR 1.99 per
share.
Explanation: the 'Prospekt Peremogi 67' project encompasses the
construction of a 'Class A' office and commercial building in Kiev with an
effective area of approximately 30,000 square metres and about 360 parking
spaces. Construction has already begun. The property is only 8 km from the
centre of Kiev city and has an ideal transportation infrastructure due to
being situated on an arterial road and in close proximity to an underground
railway station. www.peremogiprospekt67.com
About MAGNAT:
MAGNAT is a German real estate company which focuses on real estate
development in Eastern Europe supplemented by special situations in the
home market of Germany. The management focuses on undervalued real estate
markets and on markets with high macroeconomic growth. The strategy of
MAGNAT is designed to exploit opportunistic inefficiencies. Unlike
traditional investment strategies, MAGNAT profits not only from rental
income, but also principally from attractive development returns.
www.magnat-reop.com
About AKRON:
The AKRON Group was founded in 1995 by Günther Kloimüller and J. Christian
Thalhammer. The real estate company acquires, develops and manages office
buildings, logistics buildings and shopping centres. In addition, it
successfully offers investments in real estate funds to institutional and
wealthy private investors. Today, the Vienna based investment group
operates in Germany, the Netherlands, Hungary, Poland, Ukraine, Russia and
Croatia. The enterprise currently manages a real estate volume of 57
objects worth about EUR 1.2 billion and is presently developing real estate
valued at EUR 600 million. www.akron-group.com
MAGNAT Real Estate Opportunities GmbH & Co. KGaA
Dominic Köfner, CIRO
Head of Corporate Communications
Phone: +49 (0)69 719 189 79 36
E-mail: dominic.koefner@magnat-reop.com
Grüneburgweg 18
D-60322 Frankfurt am Main
Press Relations
edicto GmbH
Axel Mühlhaus / Werner Rüppel
Phone: +49 (0) 69 905 50 55 2
E-mail: amuehlhaus@edicto.de
DGAP 02.10.2008
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Language: English
Issuer: MAGNAT Real Estate Opportunities GmbH & Co. KGaA
Grüneburgweg 18
60322 Frankfurt am Main
Deutschland
Phone: +49 (0)69 / 719 189 79 0
Fax: +49 (0)69 / 719 189 79 11
E-mail: info@magnat-reop.com
Internet: www.magnat-reop.com
ISIN: DE000A0J3CH0
WKN: A0J3CH
Listed: Regulierter Markt in Frankfurt (General Standard);
Freiverkehr in Berlin, Stuttgart
End of News DGAP News-Service
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DGAP-News: MAGNAT Real Estate Opportunities GmbH & Co. KGaA: Premature closing of forward sale of Ukrainian trophy investment 'Peremogi 67'
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