euro adhoc: ALTA FIDES Aktiengesellschaft für Grundvermögen / other / ALTA FIDES AG acquires real estate portfolio comprising 430 units in southern Germany Purchase Price amounts to EUR 37 million, re
-------------------------------------------------------------------------------- Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement. --------------------------------------------------------------------------------
18.12.2006
In order to consistently pursue its strategy ALTA FIDES AG, Stuttgart, has acquired a real estate portfolio comprising approx. 430 residential and commercial units predominantely situated in southern Germany. The units acquired have an area of more than 38.000 sqm. By means of this acquisition ALTA FIDES AG has almost doubled the area of its own real estate holding. All residential units are let for an indefinite term, the property used commercially is connected with tenancy agreements with longer terms.
The purchase price amounted to EUR 37 million; on the basis of this a price per square meter of on average EUR 965 can be established. The rental yield of the portfolio amounts to more than 7 per cent.
ALTA FIDES AG does not intend to retain this portfolio as part of its own portfolio in the long run; it rather wishes to sell this portfolio together with real estate properties from the current holding during the year 2007. In the likely event of a succesful resale during the coming year, the current forecasts ragarding this business segment for the year 2007 will be exceeded considerably in terms of turnover and profit.
The Board of Management December 18, 2006
end of announcement euro adhoc 18.12.2006 15:26:13 --------------------------------------------------------------------------------
ots Originaltext: ALTA FIDES AG für Grundvermögen Im Internet recherchierbar: http://www.presseportal.de
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