InCity Immobilien AG

Regulatory Filings • Nov 15, 2017

News Details

Ad-hoc | 15 November 2017 12:57

InCity Immobilien AG: INCITY PURCHASES FURTHER PROPERTY IN THE FRANKFURT CITY CENTER

InCity Immobilien AG / Key word(s): Acquisition

InCity Immobilien AG: INCITY PURCHASES FURTHER PROPERTY IN THE FRANKFURT CITY CENTER

15-Nov-2017 / 12:57 CET/CEST

Disclosure of an inside information acc. to Article 17 MAR, transmitted by DGAP – a service of EQS Group AG.

The issuer is solely responsible for the content of this announcement.

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INCITY PURCHASES FURTHER PROPERTY IN THE FRANKFURT CITY CENTER

• Fully let residential and office building acquired in the immediate vicinity of the “Zeil” shopping district
• The change in ownership and transfer of risks and rewards is to take place at the beginning of 2018

Frankfurt am Main, November 15, 2017 – Together with a project partner, InCity Immobilien AG has acquired a seven-story residential and office building with mainly residential units in Frankfurt am Main, in the immediate vicinity of the “Zeil” shopping district, through a subsidiary, expanding its property portfolio by a seventh building.

The property is located at Schäfergasse 38-40 and is nearly fully let with a rentable area of approximately 1,400 sqm, about 88% of which are allotted to residential space with a total of 40 residential units. The property currently generates gross rental income of approximately EUR 0.42m annually. The parties have agreed not to disclose the purchase price.

InCity holds 51% of the shares in the purchasing subsidiary and the project partner holds 49%. Initially, the acquisition will be fully financed with equity capital which InCity will provide to the subsidiary as a loan.

Due to the property’s location in the Frankfurt city center in the immediate vicinity of the “Zeil” shopping district as well as the extensive modernization measures carried out in 2016, long-term value stability is predicted.

Reporting and contact person:

Helge H. Hehl, CFA

CFO

InCity Immobilien AG

Beethovenstrasse 71

60325 Frankfurt am Main, Germany

Tel.: +49 (0)69 7191889 55

E-mail: ir@incity.ag

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15-Nov-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.

Archive at www.dgap.de

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Language:	English
Company:	InCity Immobilien AG
	Beethovenstraße 71
	60325 Frankfurt am Main
	Germany
Phone:	IR: +49 (0)69 7191889 55 PR: +49 (0)69 7191889 66
Fax:	+49 (0) 69 719 18 89 790
E-mail:	ir@incity.ag
Internet:	www.incity.ag
ISIN:	DE000A0HNF96
WKN:	A0HNF9
Listed:	Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Basic Board), Stuttgart, Tradegate Exchange

End of Announcement	DGAP News Service