CR Capital AG

M&A Activity • Nov 16, 2009

News Details

Corporate | 16 November 2009 23:31

CR Capital aquires 4,000 sqm commercial space at Berlin’s new Schönefeld airport

CR Capital Real Estate AG / Miscellaneous

16.11.2009

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16 October 2009, CR Capital Real Estate AG, a German property company
owning the pre REIT status, acquired a further commercial property in
Waltersdorf (near Berlin's new Schönefeld airport). CR Capital Real Estate
AG already owns 2 commercial properties in this area.

Doing this transaction, CR Capital enlarged the property portfolio by 70
percent to approximately 10,000 sqm. Same time, CR Capital Real Estate AG
intends to participate in the positive market development around the new
Berlin airport in an above-average way. Last months, demand for office and
storage space and consequently rental fees increased substantially.

Occupancy rate of the acquired property offering office and storage space
is 94%. Letting space is 4,000 sqm. Current monthly net cold rent is
approximately EUR 4.20 per sqm. With regard to market rents in this area of
EUR 7 per sqm per month, CEO Thomas Ehrich expects income potenzial from
the acquired property.

The purchase price will be not disclosed. CR Capital will pay the purchase
price in cash.

Change in ownership will take place as of 1 December 2009.

About CR Capital Real Estate AG

CR Capital Real Estate AG is a Berlin based property company and owns the
pre REIT status. Major target is the REIT status with an investment focus
on residential properties. For achieving this target and until the company
owns a critical mass, the company needs rental income also from commercial
properties.

CR Capital Real Estate AG is listed in the Entry Standard.

Companies freefloat is 100 percent.

Contact:
Hubert Bonn / bonnIR
Phone: +49 (0)6157 9861190
bonn@bonn-ir.com

http://www.capital-real-estate-ag.de

16.11.2009 Financial News distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de

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