Orava Residential REIT plc
Stock Exchange Release on 30 December 2015 at 6:00 pm
ORAVA RESIDENTIAL REIT ACQUIRED 81 APARTMENTS
Orava Residential REIT has today signed binding agreements to acquire 81 apartments for a total debt-free purchase price of EUR 16.4 million. 62 percentage of the value of the acquired apartments are located in Helsinki area, 22 percentage in major cities and 16 percentage in mid-sized towns. The 53 apartments acquired from construction companies are not leased.
The combined impact of the transactions and the change in the fair value of investment properties in October-November are estimated to be positive about EUR 2 million for the fourth quarter result.
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