TAG Immobilien AG: TAG Immobilien AG acquires a residential real estate portfolio of 1,068 units in the greater Berlin region

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 Estate


11.01.2012 / 16:53



* Purchase price stands at around EUR 30 million

* The purchase price will be paid through the acceptance of the real estate

holding company's liabilities plus a cash component of around EUR 11


(Hamburg, 11 January 2012) TAG Immobilien AG ('TAG' for short) has today

acquired via a share deal a real estate portfolio comprising 1,057

residential units and 11 commercial units located north of Berlin and held

by a private housing company.

The units acquired entail a contiguous residential estate with a total

rental area of 59,911 sqm. Built in the 1970s/1980s, the buildings

underwent extensive renovation in 1999-2001 to bring them into line with

modern energy and residential standards. The portfolio is situated in an

attractive location in Eberswalde, north of Berlin. The net rental

generated by the newly acquired real estate comes to EUR 2.9 million per

year, with the purchase price standing at some EUR 30 million. The current

rental is only EUR 4.04 per sqm, thus providing considerable potential for

rental growths. The vacancy rate stands at around 7 percent. The real

estate can be managed inexpensively by the TAG Group's existing office in

Berlin. The portfolio will be transferred to the TAG Group within the first

quarter of 2012. This portfolio is one of the acquisitions which TAG had

announced prior to its last equity issue in November.


'Today's acquisition additionally increases the TAG Group's portfolio in

Berlin to around 10,000 units. In 2012, the Berlin region will remain a

focus of our growth strategy of investing in selected regional areas

offering potential for development and attractive returns. We believe that

suburban areas and commuter towns around large German cities offer a

particularly favourable risk/reward ratio as they combine potential for

rental growths with attractive initial returns,' says Rolf Elgeti, TAG's



TAG Immobilien AG

Investor and Public Relations

Britta Lackenbauer / Dominique Mann

Tel. +49 (0) 40 380 32 0

Fax +49 (0) 40 380 32 390



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Language: English

Company: TAG Immobilien AG

Steckelhörn 5

20457 Hamburg


Phone: 040 380 32 0

Fax: 040 380 32 390



ISIN: DE0008303504

WKN: 830350

Listed: Regulierter Markt in Frankfurt (Prime Standard), München;

Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,




End of News DGAP News-Service

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