DGAP-News: CONSUS Real Estate AG / Key word(s): Real Estate
CONSUS Real Estate AG: CONSUS places projects with a forward sale volume to the Bayerische Versorgungskammer (BKV) of around EUR 670 million under the VauVau brand

11.01.2018 / 10:51
The issuer is solely responsible for the content of this announcement.


CONSUS places projects with a forward sale volume to the Bayerische Versorgungskammer (BKV) of around EUR 670 million under the VauVau brand

Berlin, 11. January 2018 - CONSUS Real Estate AG ("CONSUS", ISIN DE000A2DA414) has forward sold, via its subsidiary company CG Gruppe in its core business unit "Development and Production of residential properties", EUR 670 million to the Bayerische Versorgungskammer (BVK).

In central locations of Leipzig, Dresden, Frankfurt / Offenbach, Dusseldorf and Cologne CONSUS will develop over the next 3 to 4 years a total of more than 1,700 apartments with a residential area of over 90,300 square meters and approximately 26,400 square meters of commercial space including over 940 parking spaces to be build under the VauVau brand.

The transaction has been structured as an asset deal with an overall volume of around EUR 670 million (individual project volumes of EUR 60-200 million). The transaction is part of CONSUS strategy to divest a significant portion of the company's project pipeline to reputable institutional investors through forward sales with an above-average risk / reward profile.

In 2017 next to a total volume of more than EUR 300 million of in Dresden, Dortmund, Frankfurt a.M. and Hamburg the company was able to complete more than 1,000 apartments and additional commercial area. The total forward sales backlog for CONSUS current stands at more than EUR 1.6 billion.

The priority of CONSUS remains residential construction with a clear focus on expanding the offering in the middle rental price segment while maintaining high quality and product features. The company has implemented its Building Information Modeling (BIM) in all its regional branches, thereby digitizing the entire value chain of the property development. The associated investments and the planned combination with the serial component production will enable the market leader from Berlin to produce residential space significantly faster and at 30 percent lower costs.

About CONSUS Real Estate AG
The listed CONSUS Real Estate AG ("CONSUS") headquartered in Berlin is the leading German rental housing project developer in the 9 largest German cities. Essential components of the business model of CONSUS are a high percentage of institutional forward sales as well as the digitization and industrial series production along the entire value chain. The development activities are supplemented by a high-yielding portfolio of German commercial real estate.

About the projects placed

Background VauVau Apartments Cologne
Approximately 20,700 m² of usable space are being developed at the Cologne-based Stolkgasse, nearly half of which will be used to create 200 residential units, and around 11,600 m² of commercial space will be modernized for Deutsche Post, Deutsche Bahn Service and other users. The planning is carried out by Schürmann + Schürmann Architekten in Stuttgart.

Background VauVau Apartments Dusseldorf
At Düsseldorf's Mercedesstrasse, 423 residential units with around 22,600 m² of living space will be built by 2021, based on a high-rise design by Sauerbruch Hutton Architekten from Berlin, and complemented by around 1,000 m² of commercial space.

Background VauVau Apartments Frankfurt / Offenbach
Equipped with a sky lounge, wellness and fitness area as well as underground parking spaces for electric vehicles, 632 apartments with a total of 31,500 m² of living space, 220 parking spaces and around 6,200 m² of commercial space, based on the designs by Eike Becker, are being built on Kaiserlei on the border between Offenbach and Frankfurt / Main.

Background VauVau Apartments Leipzig
Not far from Leipzig City, an object with 296 apartments and around 16,000 m² of living space is being built along Prager Strasse in accordance with a design by homuth + partner from Leipzig. With 4,300 m² of commercial space for offices and restaurants, another high-quality residential building is being built in the immediate vicinity of the Graphisches Viertel and the University Hospital.

Background VauVau Apartments Dresden
On Dresdner Postplatz opposite the Zwinger, 191 apartments with approx. 11,100 m² of living space, 262 parking spaces and 3,300 m² of commercial space are being built on Annenstraße according to a design by homuth + partner from Leipzig. A restaurant and a bistro complete the property.

Pressekontakt

Boris Tramm
Head of IR/Capital Markets
CONSUS Real Estate AG
E-mail: b.tramm@consus.ag
Telefon: +49 171 840 2220

edicto GmbH
Axel Mühlhaus/ Elke Pfeifer
Telefon: +49 69 905505-52
E-Mail: Consus@edicto.de



11.01.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: CONSUS Real Estate AG
Kurfürstendamm 188-189
10707 Berlin
Germany
Phone: +49 (0)30 965 357 90 300
E-mail: info@consus.ag
Internet: www.consus.ag
ISIN: DE000A2DA414
WKN: A2DA41
Listed: Regulated Unofficial Market in Frankfurt, Munich (m:access)

 
End of News DGAP News Service

644603  11.01.2018 

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