INCITY IMMOBILIEN AG: INCITY PURCHASES TWO RESIDENTIAL AND COMMERCIAL PROPERTIES IN BERLIN

INCITY PURCHASES TWO RESIDENTIAL AND COMMERCIAL PROPERTIES IN BERLIN
 

• An almost fully let residential and commercial property in Berlin-Mitte in the direct vicinity of the central station and government district has been acquired
• Another fully let residential and commercial property has been acquired in Berlin-Pankow
• The change of ownership and transfer of risks and rewards will take place in the first half of 2018

Frankfurt am Main, 5 February 2018 - InCity Immobilien AG has acquired a six-storey residential and commercial property, mainly with residential units, in the direct vicinity of Berlin's central station and government district via a subsidiary. It has additionally acquired a six-storey residential and commercial property, also mainly with residential units, at a central city location in Berlin-Pankow via another subsidiary, thereby expanding its property portfolio to ten properties.

The property in Berlin-Mitte is at Werftstrasse 3. It has a rentable area of approximately 2,600 sqm, around 90% comprising residential space, and is almost fully let. The property in Berlin-Pankow is at Jacobsohnstrasse 27. It has a rentable area of approximately 1,000 sqm, also around 90% comprising residential space, and is fully let. The two properties generate combined annual gross rental income of approximately EUR 260k. The parties have agreed not to disclose the purchase price.

Following the acquisition of the two properties, the InCity residential portfolio has approximately 120 residential units in addition to the office and commercial properties.

Reporting and contact person:
Helge H. Hehl, CFA
CFO
InCity Immobilien AG
Beethovenstrasse 71
60325 Frankfurt am Main, Germany
Phone: +49 (0)69 7191889 55
E-mail: ir@incity.ag

Language: English
Company: InCity Immobilien AG
Beethovenstrasse 71
60325 Frankfurt am Main
Germany
Phone: IR: +49 (0)69 7191889 55
PR: +49 (0)69 7191889 66
Fax: +49 (0)69 719 18 89 790
E-mail: ir@incity.ag
Internet: www.incity.ag
ISIN: DE000A0HNF96
WKN: A0HNF9
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Basic Board), Stuttgart, Tradegate Exchange