ORAVA RESIDENTIAL REIT ACQUIRED APARTMENTS FOR A T
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Orava Residential REIT plc
Stock Exchange Release on 30 December 2016 at 5:00 pm
ORAVA RESIDENTIAL REIT ACQUIRED APARTMENTS FOR A TOTAL OF EUR 3.8 MILLION
Orava Residential REIT has signed a binding agreement today to acquire a total of 13 apartments for a total debt-free purchase price of EUR 3.8 million. 36 per cent of the value of the acquired apartments is located in Helsinki area, 44 per cent in major cities, and the rest 20 per cent in medium sized towns. The apartments are new and not leased.
The combined impact of the transaction and the change in the fair value of investment properties in October-November to the fourth quarter profit is estimated to amount to approximately EUR +0.2 million.
The change in the fair value of the previously acquired investment properties is estimated to be slightly negative in December .
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
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