PRESS RELEASE: Fair Value REIT-AG has sold two properties in Schleswig-Holstein and Bavaria at a profit at the back …
PRESS RELEASE: Fair Value REIT-AG has sold two properties in Schleswig-Holstein and Bavaria at a profit at the back end of 2013
DGAP-News: Fair Value REIT-AG / Key word(s): Real Estate/Disposal Fair Value REIT-AG has sold two properties in Schleswig-Holstein and Bavaria at a profit at the back end of 2013
08.01.2014 / 18:04
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Fair Value REIT-AG has sold two properties in Schleswig-Holstein and Bavaria at a profit at the back end of 2013
- Sale of both properties at prices above their carrying amounts confirms valuation approach
- Cash inflow can be used for new investments
Munich, January 8, 2014 - Fair Value REIT-AG (WKN A0MW97) has sold two properties effective as of the end of 2013. These are a directly-held bank building in Kaltenkirchen (Segeberg county) and a partially-owned retail property held by a participation in Erlangen. The buyers are both regional institutional investors.
The sale price of the property in Kaltenkirchen, Holstenstrae 32, which is around 1,580 sqm in size, was EUR 1.95 million.
The partially-owned property in Erlangen, Henkestrae 5, has a leasable area totalling approx. 2,770 sqm and was sold for EUR 1.49 million. Fair Value REIT-AG holds an interest of around 41% in the selling associated company, which is to be dissolved after the transaction is completed.
See the article here:
PRESS RELEASE: Fair Value REIT-AG has sold two properties in Schleswig-Holstein and Bavaria at a profit at the back ...