Orava Residential REIT plc
Stock Exchange Release on 30 June 2016 at 4:10 pm
ORAVA RESIDENTIAL REIT ACQUIRED APARTMENTS FOR A TOTAL OF EUR 6.7 MILLION
Orava Residential REIT has signed binding agreements today to acquire from construction companies a total of 23 apartments for a total debt-free purchase price of EUR 6.7 million. 36 per cent of the value of the acquired apartments is located in Helsinki area, 55 per cent in major cities, and the rest 9 per cent in medium sized towns. The apartments are new and not leased.
The combined impact of the transactions and the change in the fair value of investment properties in April-May to the second quarter profit is estimated to amount to approximately EUR +1 million.
Orava Residential REIT plc
Pekka Peiponen
CEO
Additional information
Pekka Peiponen, CEO, tel. +358 10 420 3104
Veli Matti Salmenkylä, CFO, tel. +358 10 420 3102
http://www.oravaresidentialreit.com/