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DGAP-News: IMMOFINANZ subsidiary BUWOG acquires residential portfolio with 1,185 units in Berlin and surrounding areas

ID: 1285164
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(businesspress24) - DGAP-News: IMMOFINANZ AG / Key word(s): Real Estate/Miscellaneous
IMMOFINANZ subsidiary BUWOG acquires residential portfolio with 1,185
units in Berlin and surrounding areas

20.11.2013 / 10:35


- Purchase price EUR 50 million, gross return of 8.62 percent
- Main locations are Berlin-Kaulsdorf and Strausberg
- BUWOG portfolio in greater Berlin expands to around 5,450 units

BUWOG, a wholly owned subsidiary of IMMOFINANZ Group, has acquired another
residential package in Germany. The portfolio is located in Berlin and in
the surrounding areas of the capital and encompasses 1,185 residential
units with total lettable space of 79,422 sqm. The purchase price totals
EUR 50 million, resulting in an average price per square metre of about EUR
630. The gross return comes to 8.62 percent. The package originates from an
insolvency estate (insolvency administrator: Prof. Ralf Rattunde). The sale
is subject to approval by the antitrust authorities.

With 671 flats, nearly 60 percent of the units are located in
Berlin-Kaulsdorf, a neighbourhood of the Marzahn-Hellersdorf district
located in the east of the city. Another focal point is the city of
Strausberg with 407 flats, located approximately 15 kilometres east of the
city; smaller stakes are accounted for by Grünheide Mark (64 flats),
Sydower Fließ(24 flats) and Fredersdorf (19 flats). The vacancy rate is
4.2 percent and applies mainly to the locations outside of the capital.
Including the newly acquired units BUWOG now has 5,447 flats in greater

'The acquisition is in line with our overall strategy, which stipulates the
continuous development of a strong portfolio in the northern German federal
states', says Daniel Riedl, CEO of BUWOG and COO of parent company
IMMOFINANZ Group. 'Berlin is still one of Germany's most favourably priced

large cities for rents and freehold flat prices. A process of catch-up has
been underway for several years, however. The residential package just
acquired will bring good long-term returns; the vacancy rate is low.'

In the 2013 calendar year BUWOG has already invested a total of EUR 271
million in the purchase of 6,073 flats in Germany in the scope of six
- Two acquisitions in Kassel with a total of 1,505 flats
- Portfolios in Lüneburg and Syke with 885 flats as well as 582 flats in
- 3,101 flats in Berlin in two transactions

BUWOG's residential portfolio currently includes approximately 8,430 units
in Germany and approximately 27,100 units in Austria. Furthermore,
development projects with 1,600 flats are being carried out by the
subsidiary BUWOG Meermann in Berlin. In Vienna there are 3,000 flats under
construction or in planning.?Photo-Download:

BUWOG Group:
BUWOG Group (BUWOG and ESG-Villach) is the leading private residential
property company in Austria with a portfolio of 35,530 flats (approx.
27,100 in Austria, approx. 8,430 in Germany). With a construction volume of
around 700 flats in greater Vienna each year, BUWOG Group is one of the
most active residential property developers in Austria. Together with its
facility management subsidiary BUWOG FM, the group manages 2,300
residential, office, retail and hotel properties with 3.8 million sqm of
usable space, which also makes it the leading facility manager in Austria.

BUWOG Group's most important growth market is the German residential
property market, particularly Berlin and the northern federal states. In
2012 BUWOG also entered the Berlin residential development market with the
takeover of a renowned Berlin-based development company and has a project
pipeline of about 1,600 flats.

BUWOG is a wholly-owned subsidiary of the listed company IMMOFINANZ Group.

IMMOFINANZ Group is one of the leading listed property investors and
developers in Europe. The company is included in the leading ATX index of
the Vienna Stock Exchange and also trades on the Warsaw Stock Exchange.
Since its founding in 1990, the company has compiled a high-quality
property portfolio that now comprises more than 1,700 investment properties
with a carrying amount of approx. EUR 10.4 billion. As a 'real estate
machine' the company concentrates on linking its three core business areas:
the development of sustainable, specially designed prime properties in
premium locations, the professional management of these properties and
cycle-optimised sales. IMMOFINANZ Group concentrates its activities in the
retail, office, logistics and residential segments of eight regional core
markets: Austria, Germany, Czech Republic, Slovakia, Hungary, Romania,
Poland and Russia.
Further information under: | |

More information:

BUWOG Press Office, c/o LUSTIG+BREY
Thomas Brey, Tel.: +43 1 / 233 01 23-15; Mobile: +43 676 / 542 39 09;
E-Mail: brey(at)

IMMOFINANZ Group: For additional information please contact:

Bettina Schragl
Head of Corporate Communications | Press Spokesperson
T +43 (0)1 88 090 2290
M +43 (0)699 1685 7290

Stefan Schönauer
Head of Corporate Finance&Investor Relations
T +43 (0)1 88 090 2312 M +43 (0)699 1685 7312

End of Corporate News


20.11.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at and


Language: English
Wienerbergstraße 11
1100 Wien
Phone: +43 (0) 1 88090 - 2291
Fax: +43 (0) 1 88090 - 8291
E-mail: investor(at)
ISIN: AT0000809058
WKN: 911064
Listed: Freiverkehr in Berlin, München, Stuttgart; Frankfurt in
Open Market ; Wien (Amtlicher Handel / Official Market)

End of News DGAP News-Service
240783 20.11.2013

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Date: 11/20/2013 - 10:35
Language: English
News-ID 1285164
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