Corporate | 16 November 2009 23:31
CR Capital Real Estate AG / Miscellaneous 16.11.2009 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. --------------------------------------------------------------------------- 16 October 2009, CR Capital Real Estate AG, a German property company owning the pre REIT status, acquired a further commercial property in Waltersdorf (near Berlin's new Schönefeld airport). CR Capital Real Estate AG already owns 2 commercial properties in this area. Doing this transaction, CR Capital enlarged the property portfolio by 70 percent to approximately 10,000 sqm. Same time, 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 94%. Letting space is 4,000 sqm. Current monthly net cold rent is approximately EUR 4.20 per sqm. With regard to market rents in this area of EUR 7 per sqm per month, CEO Thomas Ehrich expects income potenzial from the acquired property. The purchase price will be not disclosed. CR Capital will pay the purchase price in cash. Change in ownership will take place as of 1 December 2009. About CR Capital Real Estate AG CR Capital Real Estate AG is a Berlin based property company and owns the pre REIT status. Major target is the REIT status with an investment focus on residential properties. For achieving this target and until the company owns a critical mass, the company needs rental income also from commercial properties. CR Capital Real Estate AG is listed in the Entry Standard. Companies freefloat is 100 percent. Contact: Hubert Bonn / bonnIR Phone: +49 (0)6157 9861190 bonn@bonn-ir.com http://www.capital-real-estate-ag.de 16.11.2009 Financial News distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de ---------------------------------------------------------------------------