News from 07/03/2007
The property concern Gagfah plans additional residential purchases in Berlin. The firm shall buy as many residences as possible in the capital, explained Gagfah's CEO Burkhard Drescher.
Deutsche Wohnen: Purchases in the Rhein-Main area
Deutsche Wohnen AG, Frankfurt, has purchased 503 residential and 17 commercial units for approximately €31.6mn. The purchases are distributed over the cities of Mainz (185 residential units), Oberursel (73), Wiesbaden (95), Darmstadt (110) and Frankfurt (40). The residential surface area acquired amounts to around 30,600 m²—an average of 59 m² per apartment. The average monthly rent is €6.40/m², the vacancy rate is about 4%. A total of 353 of the units acquired was taken over from DIC Asset AG in the framework of a limited auction procedure.
Estavis AG: Share of large-scale property portfolio sold
Estavis AG has sold the majority of its share in a property portfolio to a financial investor for €44mn. According to the corporation, the portion of the package which was sold consists of around 600 residential and business units, concentrated regionally in North Rhine-Westphalia and Halle/Leipzig. Estavis AG was holding a 50% share with the financial investor in the framework of a joint venture, and is going to retain 6%.
DCM AG: Investors approve REIT plans
At shareholders' meetings, some 20,000 investors in Deutsche Capital Management AG (DCM AG) have approved by a majority vote the
transferral of ten fund properties to a REIT. The ten office properties will be divested into Prime Office AG. After confirmation by the investors in the fund, the signal will now be given to check a possible IPO of Prime Office AG. In addition to the ten fund properties, the projected REIT is slated to take over two further office buildings from private ownership.
SEB ImmoInvest: Good yields permit record dividends
SEB Immobilien-Investment GmbH has raised SEB ImmoInvest's payout for the 2006-2007 business year by €1.00—compared with the previous year—to €3.30 per share. This was made possible by the open property fund's extraordinarily positive results. The payout return in relation to the unit value at the beginning of the business year is 5.8%
(previous year: 4.0%). In the business year now closing, a total of 7 properties from the portfolio of SEB ImmoInvest was sold for €698.7mn. The sales proceeds were approximately 19% above the most recently ascertained market prices.