Peach Property Group AG / Key word(s): Real Estate
07.10.2014 07:02

Release of an ad hoc announcement pursuant to Art. 53 KR

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Press release 

Peach Property Group announces notarisation of sales agreement for "Am Zirkus 1" project in Berlin

Zurich, 7 October 2014 - Peach Property Group a leading property investor and developer of high-end residential and commercial real estate, today announced the notarisation of the agreement to sell its major "Am Zirkus 1" project in Berlin to a special property fund of KanAm Grund. Situated in a unique location right on the banks of the Spree river, the building was developed in an 80:20 joint venture together with Deutsche Immobilien AG (DIAG) (Peach share: 80 percent). The building received silver certification from the German Sustainable Building Council (DGNB). On an area of around 11,000 square metres, it hosts a 4 star "Leonardo" hotel with 309 rooms. The designer hotel, which opened in August 2014, is operated by the Fattal Group. The building also comprises commercial and office space with a total gross floor area of around 5,000 square metres. The anchor tenant is Roland Berger Strategy Consultants, one of the world's leading strategy consulting firms.

Both parties agreed not to disclose the purchase price. The execution of the sale is subject to the fulfilment of several qualitative conditions, some of which are outside the control of Peach Property Group. Based on today's knowledge, fulfilling these conditions will take at least two to four months. The execution of the sale will allow Peach Property Group to generate a cash flow of CHF 10 to CHF 12 million.

Peach Property Group was advised by Taylor Wessing and CBRE in this transaction.

Contacts:

Media, investors and analysts
Dr. Thomas Wolfensberger, Chief Executive Officer and Dr. Marcel Kucher, Chief Financial Officer
+41 44 485 50 00 | investors@peachproperty.com


Media Germany
edicto GmbH, Axel Mühlhaus, Peggy Kropmanns
+49 (0) 69 90 55 05 52 | amuehlhaus@edicto.de

About Peach Property Group AG

Peach Property Group AG is a property investor and developer focused on investments in Switzerland and Germany. The portfolio includes an increasing number of investment properties that are designed to generate sustained income as well as attractive residential development properties. The Group's activities cover the entire value chain, from site evaluation to project planning, implementation and marketing. In the investment segment, the Group is focused on properties with a potential for achieving attractive yields based on active asset management - typically secondary locations in the catchment area of urban agglomerations. In the development segment, the Group concentrates on exceptional locations and properties with high-end specifications and amenities that meet the requirements of a demanding clientele.

Peach Property Group AG is headquartered in Zurich and has its German Group headquarters in Cologne. Peach Property Group AG is listed on the SIX Swiss Exchange (PEAN, ISIN CH0118530366).

For more information, see www.peachproperty.com

About KanAm Grund 
Based in Frankfurt am Main, the KanAm Grund has handled a total transaction volume of EUR 18 billion since it was established in October 2000. KanAm Grund's staff in Frankfurt am Main and in its international offices in Paris and Atlanta have many years' experience in the field of real estate investments for investors interested in physical assets. Over the years, the investment focus has been on high-quality properties in major world cities such as Paris, London, Washington, D.C., and Toronto. The KanAm Grund's activities benefit from its global network spanning strategically important locations. In addition, the Group's independence means that it is able to pursue investment strategies in investors' best interests.


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Additional features:
Document: http://n.equitystory.com/c/fncls.ssp?u=BHQTFWMYWH Document title: Press Release


07.10.2014 News transmitted by EQS Schweiz AG. 
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Language:               English
Company:                Peach Property Group AG 
                        Seestrasse 346  
                        8038 Zürich
                        Switzerland
Phone:                  +41 44 485 50 00
Fax:                    +41 44 485 50 11
E-mail: investors@peachproperty.com Internet:               www.peachproperty.com
ISIN:                   CH0118530366
Valor:                  A1C8PJ
Listed: Freiverkehr in Berlin, Stuttgart; Frankfurt in Open                         Market ; SIX
 
End of Announcement EQS Group News-Service  

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