euro adhoc: ALTA FIDES Aktiengesellschaft für Grundvermögen
other
Alta Fides
AG with major investment in the heart of Leipzig
. Acquisition of Telekom property on Augustusplatz
. Investment volume of EUR 105 million planned
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
07.06.2007
Stuttgart, 7 June 2007. Alta Fides AG, Stuttgart, has now laid the foundation for the biggest investment project in its corporate history so far and, hence, it has established the basis for further vigorous growth. To that end, the company which focuses on the development and restoration of high-quality residential real estate has acquired the last big property on Augustusplatz in the city centre of Leipzig from Deutsche Telekom AG. The parties to the contract have agreed to maintain secrecy with regard to the purchase price. The planned volume of the investments in the premises amounts to approx. EUR 105 million.
The real estate property acquired, which is located on the premises of the former main post office, has a comprehensive listed building substance. In addition to the restoration of approx. 27,000 sqm, the implementation of an innovative housing concept with approx. 200 units for students and part-time managers is planned for the rear part of the overall premises which has not been developed so far. A total area of approx. 38,000 sqm will be created in the course of the revitalisation and the planned development.
With this transaction, Alta Fides AG consistently continues its strategic investments in listed real estate properties. Until the end of the year, further large-scale investments in residential real estate properties are planned in various sites in Germany in which the new and innovative concept for student accommodation is to be implemented.
The Management Board
If you have further questions, please contact:
ALTA FIDES AG Norbert Ketterer Phone: +49 (0) 341 3552060 Fax: +49 (0) 341 35520699 E-mail: ir@altafides.de Internet: www.altafides.de
end of announcement euro adhoc 07.06.2007 20:00:00
Further inquiry note:
Rainer Fuchs
Vorstand
Tel.: +49 (0)341 35520690
E-Mail: ir@altafides.de
Branche: Real Estate
ISIN: DE000A0B7EZ7
WKN: A0B7EZ
Börsen: Frankfurter Wertpapierbörse / regulated dealing/prime
standard
Börse Berlin-Bremen / free trade
Baden-Württembergische Wertpapierbörse / free trade
Börse Düsseldorf / free trade