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ADO PROPERTIES S.A. (FRA:LU125015) ADO Properties S.A. acquires in several transactions 1,594 units in Berlin

Directive transparence : information réglementée

18/09/2017 07:00

DGAP-News: ADO Properties S.A. / Key word(s): Acquisition
ADO Properties S.A. acquires in several transactions 1,594 units in Berlin

18.09.2017 / 07:00
The issuer is solely responsible for the content of this announcement.


Berlin, 18 September 2017 - ADO Properties S.A. has signed several transactions for a total of 1,594 units in Berlin of which 1,467 are residential units and 127 are commercial units. The purchase price including transaction costs for 100% of the acquired assets amounts to EUR 262.5 million (including the assumption of certain liabilities). The agreements for the majority of the assets are subject to certain closing conditions. Closing of the transactions is expected to occur during Q4 2017. The assets are distributed across Berlin with around 25% in Central Locations.

The acquired portfolios have residential in-place rents between EUR 4.2 sqm/month to EUR 7.9 sqm/month and a vacancy rate of 3.2%. The Company expects new letting rents between EUR 6.5 sqm/month and EUR 11.0 sqm/month, reflecting a reversionary potential of up to 86% with an average of 42%. The total annual net cold rent from the portfolios at purchase amounts to EUR 9.2 million.

Together with the acquired assets ADO expects to take over EUR 99.2 million of loans with an average maturity of 8.4 years and an average interest rate of 1.9%. The remainder of the purchase price will be funded by existing liquidity.



18.09.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: ADO Properties S.A.
1B Heienhaff
L-1736 Senningerberg
Luxemburg
Phone: +352 26 493 412
Fax: +352 27 860 722
E-mail: ir@ado.properties
Internet: www.ado.immo
ISIN: LU1250154413
WKN: A14U78
Indices: SDAX, FTSE EPRA/NAREIT Global Index, FTSE EPRA/NAREIT Developed Europe Index, FTSE EPRA/NAREIT Germany Index
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Dusseldorf, Stuttgart, Tradegate Exchange; Luxemburg

 
End of News DGAP News Service

610325  18.09.2017 

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