DGAP-Adhoc: WESTGRUND Aktiengesellschaft: acquires an

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News Desk 2018
DGAP-Adhoc: WESTGRUND Aktiengesellschaft: acquires an additional property portfolio with 2,800 units 'off-market'

WESTGRUND Aktiengesellschaft / Key word(s): Mergers & Acquisitions/Real Estate 31.12.2014 10:57 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Berlin, 31.12.2014. WESTGRUND AG, Berlin, continues on its growth path with a further acquisition of a residential portfolio with a total of 2,781 units. The purchase was executed under exclusivity and away from a structured bidding process. In total the portfolio comprises 2,696 residential and 85 small commercial units (within the residential properties). The new portfolio is situated mainly in the federal states of Lower Saxony and Saxony, with smaller parts in Thuringia and Schleswig-Holstein. It therefore complements the existing WESTGRUND portfolio very well. The portfolio generates c. EUR 9 million in annual net cold rent out of c. 172,000 sqm, and offers substantial value increase potential due to both the attractive purchase price and the existing vacancy level of around 14%. To support the initial vacancy reduction, the seller has committed to provide a capex budget of a couple of million Euro. WESTGRUND will solely steer and control how these funds are deployed to maximise efficiency. Net initial rental yield is around 9%, based on the purchase price. Closing of the deal is expected during the first half of 2015. Contact: WESTGRUND AG Management board: Arndt Krienen, Sascha Giest E-Mail: vorstand@westgrund.de Westgrund AG Joachimsthaler Straße 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. 31.12.2014 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 Announcement DGAP News-Service ---------------------------------------------------------------------------

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