10.02.2017
DEMIRE Deutsche Mittelstand Real Estate AG DE000A0XFSF0
DGAP-News: DEMIRE Deutsche Mittelstand Real Estate AG: DEMIRE continues to focus on core business and sells financial investment in project development company for a high capital gain
DGAP-News: DEMIRE Deutsche Mittelstand Real Estate AG / Key word(s): Real
Estate/Disposal
DEMIRE Deutsche Mittelstand Real Estate AG: DEMIRE continues to focus on
core business and sells financial investment in project development company
for a high capital gain
10.02.2017 / 07:57
The issuer is solely responsible for the content of this announcement.
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DEMIRE continues to focus on core business and sells financial investment
in project development company for a high capital gain
Langen, February 10, 2017 - DEMIRE Deutsche Mittelstand Real Estate AG
(ISIN: DE000A0XFSF0) has sold its 25 % interest in SQUADRA Immobilien GmbH
& Co. KGaA to a German investor for EUR 7.2 million. SQUADRA is a project
development company that DEMIRE had already held an interest in before
refocusing its strategy on portfolio management in secondary locations. The
only remaining SQUADRA project is the Blue Towers in Frankfurt/Main-
Niederrad, which was also the location of DEMIRE's headquarters until
December 2016. The DEMIRE Group generated a capital gain of around EUR 4.2
million from the sale of the interest, which will be retroactively
recognised in the financial statements as of 31, 2016.
Prof. Andreas Steyer, Speaker of the Executive Board, in his comments on
the transaction: "Project development activities are not part of our
business model. With the sale of the SQUADRA stake, we have separated
ourselves from a further non-core activity and have consistently followed
the DEMIRE strategy of focussing on its core businesses of portfolio
management in German secondary locations."
The Management
Contact information
DEMIRE Deutsche Mittelstand Real Estate AG
Robert-Bosch-Straße 11
D-63225 Langen
Phone: +49 (0) 6103 - 372 49 - 0
Fax: +49 (0) 6103 - 372 49 - 11
[email protected]
www.demire.ag
_______________________________________
About DEMIRE - First in secondary locations
DEMIRE Deutsche Mittelstand Real Estate AG has commercial real estate
holdings in mid-sized cities and up and coming areas bordering German
metropolitan areas. As at September 30, 2016, DEMIRE held real estate with
a market value of EUR 985 million. As at the reporting date, annual
contractual rents had been firmly agreed upon in the amount of EUR 75.5
million for an average term of 5.2 years.
DEMIRE aims to maintain its corporate organisation as lean as possible,
although it still believes that economies of scale and portfolio
optimisation are best achieved by having its own in-house asset, property
and facility management. This safeguards the Company's business expertise
and, equally important, allows the Company to maintain direct contact with
the customer.
DEMIRE Deutsche Mittelstand Real Estate AG shares (ISIN: DE000A0XFSF0) are
listed in the Prime Standard segment of the Deutsche Börse in Frankfurt.
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10.02.2017 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: DEMIRE Deutsche Mittelstand Real Estate AG
Robert-Bosch-Straße 11 im 'the eleven'
63225 Langen (Hessen)
Germany
Phone: +49 6103 37249-0
Fax: +49 6103 37249-11
E-mail: [email protected]
Internet: www.demire.ag
ISIN: DE000A0XFSF0
WKN: A0XFSF
Listed: Regulated Market in Berlin, Frankfurt (Prime Standard);
Regulated Unofficial Market in Dusseldorf, Stuttgart,
Tradegate Exchange
End of News DGAP News Service
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543589 10.02.2017
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