ESTAVIS AG (FRA:E7S) ESTAVIS AG: ESTAVIS Continues Portfolio Expansion and Acquires Portfolio in Chemnitz

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27/09/2013 07:33
DGAP-News: ESTAVIS AG / Key word(s): Real Estate ESTAVIS AG: ESTAVIS Continues Portfolio Expansion and Acquires Portfolio in Chemnitz 27.09.2013 / 07:33 --------------------------------------------------------------------- Berlin, 27 September 2013 - ESTAVIS just acquired a portfolio of 160 residential units with a total residential floor area in Chemnitz. The purchase price is more or less equivalent to eight times the going annual rent. 'The acquisition marks the second step of the company's ongoing expansion in Saxony that we recently initiated by acquiring a majority interest in the J2P Real Estate AG,' explained Jacopo Mingazzini, Member of the Management Board of ESTAVIS AG. 'The positive current trend makes Saxony highly attractive for investments in residential real estate, and we plan to continue our acquisitions.' The two residential buildings built in 1988 and 1989 are situated in good locations in the south-eastern part of the city. 'The campus of the Chemnitz University of Technology with roughly 11,000 enrolled students is located in the immediate vicinity,' explained Mingazzini. 'This generates a constant demand impulse for the residential market, specifically a demand for smaller flats.' Each of the acquired residential units has one to three rooms and a floor area of 34 to 64 square metres, and most of them feature a balcony. The buildings are to be redeveloped in order to boost future revenue and capital growth. About Estavis: Estavis AG is a listed property company focusing on residential real estate. The company selectively acquires residential portfolios with the intention of holding these assets long-term. Accentro, a subsidiary of Estavis and the Group's other mainstay, is the market leader in housing privatisation services in Germany. Estavis AG is headquartered in Berlin and is listed on the Prime Standard of the Frankfurt Stock Exchange (German Securities Code Number [WKN]: A0KFKB). 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 End of Corporate News --------------------------------------------------------------------- 27.09.2013 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group 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 --------------------------------------------------------------------- 232251 27.09.2013