Corporate | 12 October 2009 07:00
CR Capital Real Estate AG / Miscellaneous 12.10.2009 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. --------------------------------------------------------------------------- On 9 October 2009, CR Capital Real Estate AG acquired a commercial property in Waltersdorf - near the new Berlin airport Schönefeld. Seller was an Irish investor. CR Capital Real Estate AG already owns a commercial property in this area. CR Capital Real Estate AG intends to participate in the positive market development around the new Berlin airport in an above-average way. Last months, demand for office and storage space and consequently rental fees increased substantially. Occupancy rate of the acquired property offering office and storage space is 100%. Letting space is 740 sqm. Current net cold rent is approximately EUR 4.50 per sqm. Purchase price is EUR 580,000 or EUR 780 per sqm. The purchase price corresponds with a multiplier of 9 with annual net cold rental income, this related to the typical net cold rent of EUR 7 per sqm for this area, which is achievable for the company. The purchase price will be paied by cash. Based on this acquisition, the property portfolio of CR Capital Real Estate AG grows by a further property eligible for the REIT status and to total rental space of approximately 6,700 sqm. About the Schönefeld/Waltersdorf area According to current plans, on 30 October the first aircraft will start from the new and only international airport of the Berlin/Brandenburg region. The Federal States of Berlin and Brandenburg expect additional 40,000 jobs. A lot of project developers already acquired commercial space in the airport area. Based on this strong demand, market values should grow substantially. About CR Capital Real Estate AG CR Capital Real Estate AG ist a Berlin based property company and owns the pre-REIT status. Major target is the REIT status with an investment focus on residential properties. Strategy is maximization of the residential quota (today 45%) and long-term property management. In case of market opportunities and under yield aspects, also investments in commercial properties at locations with strong growth potentials (for example airport area Schönefeld/Waltersdorf) will be done. Regional investment focus of CR Capital Real Estate AG is the greater Berlin/Potsdam area. Contact: bonnIR Hubert Bonn Phone: +49 (0)6157 9861190 bonn@bonn-ir.com http://www.bonn-ir.com 12.10.2009 Financial News transmitted by DGAP ---------------------------------------------------------------------------