15.03.2017 – 07:05

Peach Property Group AG

EQS-Adhoc: Peach Property Group acquires 1,114 apartments in North Rhine-Westphalia - consolidated target rent increases by 35 percent to CHF 22 million p.a.

EQS Group-Ad-hoc: Peach Property Group AG  / Key word(s): Real Estate
Peach Property Group acquires 1,114 apartments in North Rhine-Westphalia -
consolidated target rent increases by 35 percent to CHF 22 million p.a.

15-March-2017 / 07:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
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Press release

Peach Property Group acquires 1,114 apartments in North Rhine-Westphalia -
consolidated target rent increases by 35 percent to CHF 22 million p.a.

- Purchase agreement for a residential portfolio with approx. 73,000 m2of
residential space in Oberhausen and Duisburg has been certified, rentable
residential space increases to more than 283,500 m2

- Peach Property Group's portfolio of residential properties grows by more than
one third to around 4,243 units

- Target rental income of CHF 5.7 million p.a.

- Attractive residential properties with buildings in excellent condition and
high rental levels of around 95 percent

Zurich, 15 March 2017 - Peach Property Group has increased its real estate
portfolio by more than one third to a total of 4,243 residential units by
acquiring 1,114 apartments in North Rhine-Westphalia. The rentable residential
space in the group's entire real estate portfolio has thus increased by around
73,000 square meters to approx. 283,500 square meters. Annual target rental
income for Peach Property Group has increased by CHF 5.7 million to CHF 22
million as a result of the purchase. The corresponding purchase agreement was
certified by the notary yesterday, and closing is scheduled for the first half
of 2017. The properties are being sold by a major German real estate company; it
has been agreed not to disclose the purchase price.

The new portfolio, which also includes 679 parking bays, is mostly located in
the district Alt-Oberhausen of Oberhausen, close to Essen and Düsseldorf. 47
apartments are located in nearby Duisburg. The buildings are in excellent
condition, which means that no major renovation work is required. Around 95
percent of the units have been let and the portfolio currently generates annual
rent of CHF 5.4 million (EUR 5.0 million).

The new portfolio includes the largest connected group of so-called
"Zechenhäuser" (renovated, former colliery houses) available for rent in the
Ruhr region. These account for around 40 percent of the annual basic net rent in
the new portfolio. The colliery houses are very popular with tenants as they
have single-family house character with large gardens. The vacancy rate is
correspondingly low for these 385 residential units at just 1.9 percent.

This portfolio which Peach Property Group is now acquiring also includes 100
apartments suitable for old-age residences, for which Caritas offers support for
the residents. The portfolio also includes several multi-family dwellings, which
mostly stem from Germany's "Gründerzeit" and also offer attractive residential
space. The majority of these properties were renovated at the end of the 1980s
and at the start of the 1990s.

Oberhausen is migrating from an industrial to a service location. Shopping and
leisure facilities represent important elements of the economy. The CentrO in
Oberhausen, for example, is one of Europe's largest shopping and leisure centers
with more than 830,000 square meters of operating space and 220 shops. There are
also a number of tourist attractions in Oberhausen, such as the Legoland
Discovery Center, the Sea-Life Aquarium, the König Pilsner Arena or the Metronom
Theater. At the end of 2016, more than 212,000 people were living in Oberhausen.

Dr. Thomas Wolfensberger, Peach Property Group's CEO, commented: "We are
re-dimensioning thanks to this purchase, and have grown our real estate
portfolio to around 4,250 units. This means that we are a major step closer to
our goal of reaching around 5,000 apartments over the short to medium term.
Thanks to our active asset management which clearly focuses on tenants, we also
want to grow the value of these new apartments, further reduce vacancies and
increase rental income. The acquisition of this portfolio has already increased
our current rental income by almost 40 percent, and target rental has increased
by around one third per year."

Contacts:

Media, investors and analysts

Dr. Thomas Wolfensberger, Chief Executive Officer and Dr. Marcel Kucher, Chief
Financial Officer

+41 44 485 50 00 |  investors@peachproperty.com


Media Germany

edicto GmbH, Axel Mühlhaus, Peggy Kropmanns

+49 (0) 69 90 55 05 52 |  amuehlhaus@edicto.de

About Peach Property Group AG

Peach Property Group is a property investor and developer focused on investments
in Germany and Switzerland. The Group stands for long time experience,
competence and quality. Innovative solutions for modern housing needs, strong
partnerships and a wide value chain complete the profile of the Group. The
portfolio consists of an increasing number of high yield investment properties,
typically in B-cities in close reach to metropolitan areas. In addition, the
Group develops properties for its own portfolio or for the sale as condominium.
Developments for sale focus on A-locations and encompass attractive architecture
and high level furnishing for an international clientele. The business
activities of the Group cover the entire value chain, from property acquisition
and site selection to active asset management and finally to the sale or lease
of properties.

Peach Property Group AG is headquartered in Zurich and has its German Group
headquarters in Cologne. Peach Property Group AG is listed on the SIX Swiss
Exchange (PEAN, ISIN CH0118530366).

For more information, seewww.peachproperty.com

 

Additional features:


Document:http://n.eqs.com/c/fncls.ssp?u=PSUORTDUCQ
Document title: Press Release
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End of ad hoc announcement------------------------------------------------------

Language: English

Company:  Peach Property Group AG

          Seestrasse 346

          8038 Zürich

          Switzerland

Phone:    +41 44 485 50 00

Fax:      +41 44 485 50 11

E-mail:    investors@peachproperty.com

Internet: www.peachproperty.com

ISIN:     CH0118530366

Valor:    A1C8PJ

Listed:   Regulated Unofficial Market in Berlin, Stuttgart; Open Market (Basic
Board) in Frankfurt; SIX Swiss Exchange



 

End of Announcement EQS Group News Service

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554101  15-March-2017 CET/CEST