DGAP-News: ESTAVIS AG acquires large listed ensemble in Berlin
(firmenpresse) - ESTAVIS AG / Miscellaneous
08.04.2010 09:35
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* Renovation and conversion for upmarket living right next to the Spree
* Revenue volume of around EUR 65 million
* Joint marketing with Berner Group
Berlin, 8 April 2010 - ESTAVIS AG has acquired a property measuring around
37,600 square metres in Berlin comprising several listed buildings in
direct vicinity of the Spree. The listed ensemble on the site of the former
Glanzfilmfabrik, a film factory in Köpenick is to undergo high-quality
renovation and conversion. Some 230 apartments will be built in three
construction phases. Furthermore, the construction of new town houses is
planned. The anticipated revenue volume will amount to around EUR 65
million.
'By acquiring and renovating this unique listed ensemble in Berlin we are
expanding our range of premium quality residential real estate in the
upmarket price segment,' says Florian Lanz, Chief Executive Officer of
ESTAVIS AG. 'At the same time we are strengthening our core business area
with a lucrative major project that will have a positive effect on the
future business development of ESTAVIS.'
The listed residential ensemble will be jointly marketed with Berner Group.
Berner Group counts among Germany's leading providers of real estate
capital investments products. Over the past 30 years, the company has
brokered real estate andfinancing deals in an aggregate volume exceeding
4.7 billion Euros.
ESTAVIS and Berner Group will jointly market selected real estate projects
in the future. The focus will be on listed real estate in the upper price
segment.
The first of the joint projects involve the historic 'Glanzfilmfabrik
Köpenick' plant in Berlin and 'Am Ruinenberg' indoor riding arena in
Potsdam - a modern housing estate with historic ambience will be raised on
the grounds of a former cavalry barracks in Potsdam. Renewable energy will
play a major role in the conversion of the historic indoor riding arena.
About ESTAVIS AG:
ESTAVIS offers institutional and private investors bespoke solutions in the
context of residential real estate in Germany. Options extend from the
conceptualisation of new commitments all the way to the liquidation of
existing direct or indirect single or portfolio investments. To this end,
ESTAVIS will orient the entire supply chain to a successful exit, including
procurement, optimisation, and eventual sale. An essential success factor
and competitive advantage of ESTAVIS is the company's clout in property
retailing. ESTAVIS AG is seated in Berlin, and is listed in the Prime
Standard of the Frankfurt stock exchange (ISIN: DE000A0KFKB3).
ESTAVIS AG - Peter Vogt - Investor&Public Relations - Tel: + 49 30 887
181 799 - E-Mail: ir(at)estavis.de
08.04.2010 09:35 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Language: English
Company: ESTAVIS AG
Uhlandstr. 165
10719 Berlin
Deutschland
Phone: +49 (0)30 - 887 181 - 0
Fax: +49 (0)30 - 887 181 - 11
E-mail: info(at)estavis.de
Internet: http://www.estavis.de
ISIN: DE000A0KFKB3
WKN: A0KFKB
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Düsseldorf, Hamburg, Stuttgart
End of News DGAP News-Service
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Datum: 08.04.2010 - 03:35 Uhr
Sprache: Deutsch
News-ID 1012562
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