euro adhoc: Vivacon AG
other
VIVACON AG acquires another significant ground
lease portfolio in Northrhine-Westphalia
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
21.06.2005
Ad-hoc Announcement according to § 15 WpHG
VIVACON AG acquires another significant ground lease portfolio in Northrhine-Westphalia
Cologne, June 21th 2005. VIVACON AG (ISIN DE0006048911) has today acquired a portfolio of ground lease properties from Bast-Bau GmbH & Co. Dienstleiungs KG i.L. The transaction is consummated by way of an acquisition of a newly founded special purpose vehicle containing these ground lease properties.
The portfolio is made up of approx. 350 heritable building rights in Northrhine-Westphalia. The ground lease contracts for these properties have already been established and currently generate ground lease interests of c. EUR 360,000 p.a. These ground lease contracts have an average remaining lifetime of c. 160 years.
The acquisition price is in the low single-digit million Euro area. In the future Vivacon AG will acquire further ground lease properties and will continue to rise annual ground rents.
end of announcement euro adhoc 21.06.2005 14:31:02
Further inquiry note:
Lars Schriewer
Tel.: +49 (0) 221 93761 26
E-Mail: lars.schriewer@vivacon.de
Branche: Real Estate
ISIN: DE0006048911
WKN: 604891
Börsen: Berliner Wertpapierbörse
Hamburger Wertpapierbörse
Baden-Württembergische Wertpapierbörse
Frankfurter Wertpapierbörse