S IMMO AG / Successful sale of German residential properties

12.08.2016, 1850 Zeichen

Disclosed inside information pursuant to article 17 Market Abuse Regulation (MAR) transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement.
Strategic management decisions/Contracts 12.08.2016

Today S IMMO has entered into contracts regarding the sale of a part of its German residential portfolio to "Deutsche Investment Wohnen III", a fund managed by Deutsche Investment, together with EB GROUP. The transaction comprises approximately 1,500 residential units in Berlin and Hamburg. In terms of space, this corresponds to a third of the German residential portfolio or about 20% of S IMMO's total German portfolio. The transaction is expected to close within the next months.
With this transaction S IMMO realises the so far achieved increase in value for this part of the portfolio. At closing, this transaction will result in a net inflow (after deduction of credit financing) of approximately EUR 140m.
The sale will also positively contribute to the revaluation result for the first six months of 2016. That result from property revaluation will amount to roughly EUR 106m (the final figures for the first half year will be announced on 25 August). Moreover, a significant profit will arise from the reversal of deferred tax liabilities at closing. Overall, the sale will significantly strengthen S IMMO's balance sheet structure and increase its equity.
end of announcement euro adhoc
issuer: S IMMO AG Friedrichstraße 10 A-1010 Wien phone: +43(0)50100-27550 FAX: +43(0)050100-927559 mail: office@simmoag.at WWW: www.simmoag.at sector: Real Estate ISIN: AT0000652250 indexes: ATX Prime, IATX stockmarkets: official market: Wien language: English

Digital press kit: http://www.ots.at/pressemappe/3109/aom

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