DGAP-News: ADLER Real Estate AG / Key word(s): Disposal/Real Estate
ADLER Real Estate AG: Subsidiary ACCENTRO Real Estate AG generates
large gains from the disposal of a residential property portfolio
04.05.2015 / 12:43
---------------------------------------------------------------------
Corporate News
ADLER Real Estate AG: Subsidiary ACCENTRO Real Estate AG generates large
gains from the disposal of a residential property portfolio
- Earnings contribution of approx. EUR 13.1 million expected for the
second quarter of 2015
- EUR 51.5 million in liquidity to go to ACCENTRO
- Strong precedent for further expansion in residential privatisation
Hamburg, 4 May 2015. ADLER Real Estate AG, Frankfurt/Main (ISIN
DE0005008007) generated considerable gains within the Group by the
successful pre planned disposal of a residential property portfolio held
through its subsidiary ACCENTRO Real Estate AG (ISIN/WKN DE000A0KFKB3),
Berlin. As a result of the sale, ACCENTRO generated profits of approx. EUR
13.1 million in its consolidated financial statements in line with IFRS.
These are expected to positively contribute to results during the second
quarter of 2015. The transaction is expected to generate proceeds to the
Company amounting to approx. EUR 51.5 million.
With this transaction, ACCENTRO creates the basis for further considerable
growth. "The high cash and cash equivalents serve primarily to acquire
residential properties, which are pre-eminently suitable for
privatisation," states Axel Harloff, CEO of ADLER Real Estate AG. "As a
result, ACCENTRO can lay the foundations for a strong upturn in the
privatisation transaction volume." ACCENTRO is already the leading company
in the area of residential privatisation in Germany. In view of the ongoing
period of low interest rates, residential property provides an opportunity
for securing pensions for an increasing section of the population. "For
this reason, demand and market growth are correspondingly high;" continued
Harloff.
The residential portfolio is comprises 1,174 units with Net Rentable Area
of c. 76,386 square metres and currently generates approx. EUR 4.6 million
in Net Rental Income per annum. The properties are located in
Berlin-Hohenschönhausen. ACCENTRO had reassessed the portfolio in the first
quarter of 2015. This resulted in an expected gain of approx. EUR 5 million
for the ACCENTRO Group in the first quarter, which will also be
consolidated in the ADLER consolidated result for the first quarter.
For enquiries, please contact:
Press:
german communications dbk ag
Jörg Bretschneider
Milchstr. 6 B, 20148 Hamburg, Germany
Phone: +49-(0)40/46 88 33 0
Fax: +49-(0)40/46883340
presse@german-communications.com
Investor Relations:
Hillermann Consulting
Christian Hillermann
PoststraÃe 14, 20354 Hamburg, Germany
Phone: +49-(0)40/32 02 79 10
Fax +49-(0)40/32 02 79 114
c.hillermann@hillermann-consulting.de
---------------------------------------------------------------------
04.05.2015 Dissemination of a Corporate News, 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: ADLER Real Estate AG
Herriotstr. 5
60528 Frankfurt am Main
Germany
Phone: +49 (0)40 - 29 8130-0
Fax: +49 (0)40 - 29 8130-99
E-mail: info@adler-ag.com
Internet: www.adler-ag.com
ISIN: DE0005008007, XS1211417362, DE000A1R1A42, DE000A11QF02
WKN: 500800, A14J3Z, A1R1A4, A11QF0
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg
End of News DGAP News-Service
---------------------------------------------------------------------
352443 04.05.2015
DGAP-News: ADLER Real Estate AG: Subsidiary ACCENTRO Real Estate AG generates large gains from the disposal of a residential property portfolio
| Source: EQS Group AG