TAG Immobilien AG: TAG Immobilien AG buys Berlin residential complex with 454 units
TAG Immobilien AG / Key word(s): Real Estate14.07.2011 / 15:42---------------------------------------------------------------------(Hamburg, 14 July 2011) TAG Immobilien AG (TAG in the following) todayacquired a residential real estate complex of 454 residential units and 8commercial units in Berlin-Hellersdorf, for EUR 17.6 million.The self-contained residential complex was built in the early 1990s and wasextensively renovated and modernised in the years until 2008. Twohigh-rises specifically cater to the needs of senior residents. The complexhas a total rental space of around 26,900 sqm, most of which is broken downinto the 2- or 3-room flats demanded by the market. The occupancy rate isat about 94 percent. The properties are in the immediate vicinity of TAG'sMarzahn site, so that the newly acquired can be integrated into the Berlinportfolio and cost-effectively managed by the Berlin office.'Continued growth is an essential part of our strategy. Berlin is our mostimportant location, and the acquisition of the residential complex inHellersdorf expands our Berlin portfolio by 6.4 percent. Our continued goalis to keep expanding in the locations where we are already invested,' saysRolf Elgeti, CEO of TAG.End of Corporate News---------------------------------------------------------------------14.07.2011 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 32 300 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 --------------------------------------------------------------------- 132103 14.07.2011