Bli medlem
Bli medlem

Du är här


Eastern Property Holdings Limited (EPH): Eastern Property Holdings Limited (EPH) announces closing of the acquisition of 94% of the office and retail complex Ci

Eastern Property Holdings Limited (EPH) / Eastern Property Holdings Limited
(EPH) announces closing of the acquisition of94% of the office and retail
complex CityGate in Stuttgart, Germany from The Carlyle Group. Processed and
transmitted by Nasdaq Corporate Solutions. The issuer is solely responsible
for the content of this announcement.
2 November 2016, Road Town, Tortola, BVI

Eastern Property Holdings ("EPH" or the "Company") announces the closing of
the transaction regarding the acquisition of 94% ownership interest in the
office and retail complex CityGate, located in Stuttgart, Germany, from The
Carlyle Group. The property has been acquired through a competitive tender
process on market terms. The parties to the transaction agreed not to
disclose the acquisition price to the public.

CityGate is a newly constructed Class A office and retail complex with an
underground parking garage perfectly located in the center of Stuttgart, in
close proximity to the main railway station. The building with a total area
of approx. 17,300 sqm on 11 floors (including more than 15,000 sqm of office
space) is rented out to reputable national and international tenants. The
forecasted annual net operating income of CityGate amounts to EUR 4.3m with
an overall weighted average lease term of 10 years.

For further information on CityGate please refer to

CityGate is EPH' first core commercial real estate asset in Germany, this
transaction follows the strategy of the Company to focus on investments in
premium quality income producing commercial property assets. Given its key
investment parameters such as excellent location, reputable tenants with
long-term leases and highest construction quality, the acquisition of
CityGate will further diversify the Company's portfolio and strengthen
sustainability of its long-term performance.

Although Russia remains to be the prime focus for the Company's investments
and EPH is fully satisfied with its current real estate portfolio, on the
back of current uncertainty in Russian real estate sector the Company
searches for alternative destinations for investments that remains consistent
with general EPH aims and objectives. Germany remains one of the most
attractive, safe and liquid real estate markets in Europe.

Eastern Property Holdings Ltd.

is an investment company listed on SIX Swiss Exchange which holds interest in
office, residential and retail properties. EPH is managed by Valartis
International Ltd. a wholly-owned subsidiary of Valartis Group AG.

Additional information on Eastern Property Holdings is available by contacting
Anna Bernhart Tel: +41 44 503 5400.

EPH Closing City Gate

This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Eastern Property Holdings Limited (EPH) via Globenewswire

Författare Hugin

Tala om vad ni tycker

Tala om vad ni tycker

Ni är just nu inne på en betaversion av nya aktiespararna. Lämna gärna feedback på vad ni tycker i formuläret nedan.