ESTAVIS AG (FRA:E7S) ESTAVIS AG: Townscape One Acquires Last Development Site of Estavis AG

Directive transparence : information réglementée

15/05/2013 08:03
DGAP-News: ESTAVIS AG / Key word(s): Real Estate/Disposal ESTAVIS AG: Townscape One Acquires Last Development Site of Estavis AG 15.05.2013 / 08:03 --------------------------------------------------------------------- Berlin, 15 May 2013. Townscape One, a project developer seated in Germany and Switzerland, just acquired a plot of around 7,860 square metres located in Berlin's Alt-Hohenschönhausen district from Estavis AG, a Berlin-based housing company. Plans call for the development of around 10,300 square metres of residential floor space in altogether 157 rental flats and condominiums, spread across five distinct building sections. Construction is scheduled to start in June 2013. Underwriting bank for the estimated total investment volume of 22 million euros is HSH Nordbank. The transaction was facilitated by Jebens Mensching LLP. on behalf of the buyer side, Townscape One. Last Remaining Development Site of Estavis AG The development site just sold is located on the brownfield estate of a former candy factory, Alte Zuckerfabrik, and represents the last of the so-called 'chocolate candy' sites and simultaneously the last vacant plot owned by Estavis. Last year, Estavis AG radically restructured its business model, discontinuing its project development business line in order to concentrate solely on the acquisition and management of housing units and on the housing privatisation business handled by its subsidiary Accentro. 'We have finally completed this process now. Looking forward, we will further intensify our focus on our new strategy,' explained Jacopo Mingazzini, Member of the Executive Board of Estavis AG, adding that the company acquired 1,200 new housing units in Berlin-Hohenschönhausen at the end of last month. Townscape One Committed to the Berlin Market 'We are delighted by our successful acquisition of such a development site in Berlin's Alt-Hohenschönhausen district. The area has experienced tremendous appreciation in recent years. We are convinced that we are looking at a long-term trend here, and are actively looking for additional residential property anywhere on the Berlin market,' said Henrick Sassenscheidt, Managing Partner of Townscape One. Previously active in the Rhine-Main region and in North Rhine-Westphalia, it is the project developer's first commitment in Berlin. Life inside a Piece of Chocolate The macro-project headlined 'Schokostücke' - German for 'chocolate candies' - is under development on the two-hectare brownfield estate of a former candy factory, and involves around 270 housing units in five construction stages. Unit sales at the first four construction stages, which are realised by another developer, are virtually completed. The project features townhouses, lofts, and apartment block units. The appeal of the site is further enhanced by small yards, landscaped roofs, rooftop patios, and a park of 1000 sqm on the premises. Future residents will have easy access to an excellent and well established infrastructure. Schools, preschools, doctors' offices, gyms, and all sorts of convenience stores are located in the immediate vicinity. About ESTAVIS: ESTAVIS AG is a listed property company focusing on residential properties. It is active in the two business lines of portfolio management and housing privatisation, and continuously expands these by acquiring interesting properties and portfolios. ESTAVIS AG is headquartered in Berlin, and is listed on the Prime Standard of the Frankfurt Stock Exchange (German Securities Code Number [WKN]: A0KFKB). About Townscape One: With headquarters in Germany and Switzerland, Townscape One is a project developer for residential real estate. The Townscape One Group covers the entire supply chain of a property, from the acquisition to the conceptualisation, and from financing, to project control, and all the way to sales. Assets are preferably situated in 1A and 1B locations in the Berlin, Rhine-Main, and Cologne-Düsseldorf metro areas. Acting moreover as developers of investment products, Townscape One's senior management team of four, consisting of Sebastian Grabianowski, Henrik Sassenscheidt, Philipp Grabianowski und Filip Aulin, facilitates direct investments on markets in Germany, Poland and Switzerland. www.townscapeone.com Contact: ESTAVIS AG Investor & Public Relations Tel: + 49 30 887 181 799 E-mail: ir@estavis.de Dr. ZitelmannPB. GmbH Holger Friedrichs Tel.: + 49 30 72 62 76 157 E-mail: friedrichs@zitelmann.com Townscape One Henrik Sassenscheidt Managing Director Tel. + 49 30 754 457 21 Sturme Communications Anja Sturme Tel. +49 2153 -13958-20 E-mail: as@sturme-communications.biz End of Corporate News --------------------------------------------------------------------- 15.05.2013 Dissemination of a Corporate News, transmitted by DGAP - a company 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: ESTAVIS AG Uhlandstr. 165 10719 Berlin Germany Phone: +49 (0)30 - 887 181 - 0 Fax: +49 (0)30 - 887 181 - 11 E-mail: info@estavis.de Internet: http://www.estavis.de ISIN: DE000A0KFKB3 WKN: A0KFKB Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 211166 15.05.2013