euro adhoc: Vivacon AG
other
VIVACON AG acquires a complex of
listed buildings in Düsseldorf
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
10.06.2005
Ad-hoc Announcement according to § 15 WpHG
VIVACON AG acquires a complex of listed buildings in Düsseldorf
Cologne, June 10th 2005. VIVACON AG (ISIN DE0006048911) today has acquired a complex in Düsseldorf-Derendorf with more than 21,000 sqm from the state of Northrhine-Westfalia. The landmark ensemble has a total living area of 12,300 sqm. The existing buildings will be converted into 180 condominiums. Additionally 200 new parking lots will be created. According to the usual business model of VIVACON AG, marketing and sales of the apartments will be under leasehold terms.
The total sales volume is currently estimated at approximately EUR 26.5 mn. After the completion of the conversion planning, marketing will commence later this summer. The acquisition price is in the low single-digit million Euro area.
end of announcement euro adhoc 10.06.2005 19:48:23
Further inquiry note:
Lars Schriewer
Tel.: +49 (0) 221 93761 26
E-Mail: lars.schriewer@vivacon.de
Branche: Real Estate
ISIN: DE0006048911
WKN: 604891
Index: General Standard, CDAX, SDAX
Börsen: Berliner Wertpapierbörse / free trade
Hamburger Wertpapierbörse / free trade
Baden-Württembergische Wertpapierbörse / free trade
Frankfurter Wertpapierbörse / official dealing