TAG Immobilien AG: TAG Immobilien AG acquires a residential real estate portfolio of 1,068 units in the greater Berlin region
TAG Immobilien AG / Key word(s): Real Estate11.01.2012 / 16:53---------------------------------------------------------------------* Purchase price stands at around EUR 30 million* The purchase price will be paid through the acceptance of the real estateholding company's liabilities plus a cash component of around EUR 11million.(Hamburg, 11 January 2012) TAG Immobilien AG ('TAG' for short) has todayacquired via a share deal a real estate portfolio comprising 1,057residential units and 11 commercial units located north of Berlin and heldby a private housing company.The units acquired entail a contiguous residential estate with a totalrental area of 59,911 sqm. Built in the 1970s/1980s, the buildingsunderwent extensive renovation in 1999-2001 to bring them into line withmodern energy and residential standards. The portfolio is situated in anattractive location in Eberswalde, north of Berlin. The net rentalgenerated by the newly acquired real estate comes to EUR 2.9 million peryear, with the purchase price standing at some EUR 30 million. The currentrental is only EUR 4.04 per sqm, thus providing considerable potential forrental growths. The vacancy rate stands at around 7 percent. The realestate can be managed inexpensively by the TAG Group's existing office inBerlin. The portfolio will be transferred to the TAG Group within the firstquarter of 2012. This portfolio is one of the acquisitions which TAG hadannounced prior to its last equity issue in November.'Today's acquisition additionally increases the TAG Group's portfolio inBerlin to around 10,000 units. In 2012, the Berlin region will remain afocus of our growth strategy of investing in selected regional areasoffering potential for development and attractive returns. We believe thatsuburban areas and commuter towns around large German cities offer aparticularly favourable risk/reward ratio as they combine potential forrental growths with attractive initial returns,' says Rolf Elgeti, TAG'sCEO.TAG Immobilien AGInvestor and Public RelationsBritta Lackenbauer / Dominique MannTel. +49 (0) 40 380 32 0Fax +49 (0) 40 380 32 390pr@tag-ag.comEnd of Corporate News---------------------------------------------------------------------11.01.2012 Dissemination of a Corporate News, transmitted by DGAP - acompany of EquityStory AG.The issuer is solely responsible for the content of this announcement.DGAP's Distribution Services include Regulatory Announcements,Financial/Corporate News and Press Releases.Media archive at www.dgap-medientreff.de and www.dgap.de---------------------------------------------------------------------Language: English Company: TAG Immobilien AG Steckelhörn 5 20457 Hamburg Germany Phone: 040 380 32 0 Fax: 040 380 32 390 E-mail: ir@tag-ag.com Internet: www.tag-ag.com ISIN: DE0008303504 WKN: 830350 Listed: Regulierter Markt in Frankfurt (Prime Standard), München; Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 152445 11.01.2012
