DGAP-Ad-hoc: CONSUS Real Estate AG / Key word(s): Takeover/Real Estate
CONSUS Real Estate AG acquires ca. 58% stake in GxP German Properties AG with a portfolio of 12 office properties and a total GAV of ca. EUR 164 million

10-Nov-2017 / 08:19 CET/CEST
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CONSUS Real Estate AG acquires ca. 58% stake in GxP German Properties AG with a portfolio of 12 office properties and a total GAV of ca. EUR 164 million

Leipzig, 10. November 2017 - CONSUS Real Estate AG ("CONSUS", ISIN DE000A2DA414) acquires a majority stake of ca. 58% in GxP German Properties AG (GxP), headquartered in Berlin. CONSUS will finance the acquisition through existing financing means. The parties agreed not to disclose the purchase price. CONSUS expects the transaction to be accretive on a NAV and NAV/ share basis.

CONSUS will strengthen the segment of buy-to-hold commercial assets from currently 8 office properties and a total GAV of EUR 145.5 million to 20 offices and a total GAV of EUR 309.6 million through the acquisition of the majority stake. In the CONSUS segment of high yielding commercial assets including CG assets CONSUS will reach a critical mass of EUR 508 million GAV upon completion of the transaction. The office assets and the developed CG commercial assets generate an annualized net rental income of around EUR 28 million with strong recurring FFO.

The recurring rental income of the commercial assets is supporting the strong growth business as leading German residential developer in Germany's 9 largest cities.

Press contact:
edicto GmbH
Axel Mühlhaus/ Dr. Sönke Knop
Phone: +49 69 905505-52
Email: CONSUS@edicto.de

10-Nov-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language: English
Company: CONSUS Real Estate AG
Landsteinerstraße 6
04103 Leipzig
Germany
Phone: +49 (0)341 / 26 17 87 - 0
Fax: +49 (0)341 / 26 17 87 - 31
E-mail: s.bronisz@consus-cp.de
Internet:http://consus-cp.de
ISIN: DE000A2DA414
WKN: A2DA41
Listed: Regulated Unofficial Market in Munich (m:access); Open Market (Basic Board) in Frankfurt

 
End of Announcement DGAP News Service

627725  10-Nov-2017 CET/CEST

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