(DGAP-Media / 27.11.2014 / 10:12) Westgrund AG received financial commitment to replace bridge financing of "Berlinovo"- Portfolio - Group interest rate decreases to below 3% - Almost 100% of owned properties are financed through German Landesbanken Berlin, 27.11.2014 - Westgrund AG received the finanical commitment to replace the bridge financing of the "Berlinovo"-Portfolio. The Landesbank Baden-Württemberg ("LBBW"), one of the most renowned Landesbanken in Germany, provided financial commitment for the "Berlinovo"-Portfolio. As a consequence, the obtained bridge financing for the "Berlinovo"-Portfolio will be replaced by a final long-term financing at the end of the year. Details of this loan will be fixed during the next weeks, valuing the loan presumably in December 2014. As expected, the interest rate will be around 2.5% with a maturity of c. 7 years. The average interest rate of Westgrund's credit portfolio will decrease to considerably below 3%. The bridge financing provided by Barclays will be paid back at the same time. "We look very much forward to working with LBBW. As expected, we reached the next step for a successful integration of the "Berlinovo"-Portfolio", says Sascha Giest, CFO of Westgrund AG. BF.direkt AG Berlin and Stuttgart were supporting Westgrund AG on the structuring and coordination side. Contact: WESTGRUND AG Management board: Arndt Krienen, Sascha Giest E-Mail: vorstand@westgrund.de Westgrund AG Joachimsthaler StraÃe 34 10719 Berlin Deutschland Telephone:+49 30 2000 914 20 Facsimile: +49 30 6396192 28 About Westgrund AG: WESTGRUND AG is a real estate company based in Berlin. With a clear focus on housing, the company buys, manages, and develops residential portfolios with appreciation potential in various regions in Germany that are marked by auspicious and sound micro-environments. The company takes an active asset management approach to raise the value-add in sustainable ways. The company's assets are concentrated in the Berlin metro area, Lower Saxony and the region of Halle, Leipzig. End of Media Release --------------------------------------------------------------------- Issuer: WESTGRUND Aktiengesellschaft Key word(s): Real estate 27.11.2014 Dissemination of a Press Release, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: WESTGRUND Aktiengesellschaft Joachimsthaler Strasse 34 10719 Berlin Germany Phone: +49 30 2000 914 20 Fax: +49 30 639 619 228 E-mail: krienen@westgrund.de Internet: www.westgrund.de ISIN: DE000A0HN4T3 WKN: A0HN4T Listed: Regulierter Markt in Düsseldorf, Frankfurt (Prime Standard); Freiverkehr in Berlin, Hamburg, Stuttgart End of News DGAP-Media --------------------------------------------------------------------- 300037 27.11.2014
DGAP-Media: WESTGRUND Aktiengesellschaft: Westgrund AG received financial commitment to replace bridge financing of 'Berlinovo'- Portfolio
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