Announcement

TAG Immobilien AG: TAG Immobilien AG buys Berlin residential complex with 454 units

Hamburg, 14 July 2011) TAG Immobilien AG (TAG in the following) today acquired a residential real estate

TAG Immobilien AG: TAG Immobilien AG buys Berlin residential complex with 454 units

TAG Immobilien AG / Key word(s): Real Estate

14.07.2011 / 15:42

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(Hamburg, 14 July 2011) TAG Immobilien AG (TAG in the following) today
acquired a residential real estate complex of 454 residential units and 8
commercial units in Berlin-Hellersdorf, for EUR 17.6 million.

The self-contained residential complex was built in the early 1990s and was
extensively renovated and modernised in the years until 2008. Two
high-rises specifically cater to the needs of senior residents. The complex
has a total rental space of around 26,900 sqm, most of which is broken down
into the 2- or 3-room flats demanded by the market. The occupancy rate is
at about 94 percent. The properties are in the immediate vicinity of TAG's
Marzahn site, so that the newly acquired can be integrated into the Berlin
portfolio and cost-effectively managed by the Berlin office.

'Continued growth is an essential part of our strategy. Berlin is our most
important location, and the acquisition of the residential complex in
Hellersdorf expands our Berlin portfolio by 6.4 percent. Our continued goal
is to keep expanding in the locations where we are already invested,' says
Rolf Elgeti, CEO of TAG.


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Language:    English                                                    
Company:     TAG Immobilien AG                                          
             Steckelhörn 5                                              
             20457 Hamburg                                              
             Germany                                                    
Phone:       040 380 32 300                                             
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  
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