CR Capital AG

M&A Activity • Oct 12, 2009

News Details

Corporate | 12 October 2009 07:00

CR Capital acquires commercial property near to the new Berlin airport

CR Capital Real Estate AG / Miscellaneous

12.10.2009

Dissemination of a Corporate News, transmitted by
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The issuer / publisher is solely responsible for the content of this announcement.

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On 9 October 2009, CR Capital Real Estate AG acquired a commercial property
in Waltersdorf - near the new Berlin airport Schönefeld. Seller was an
Irish investor. CR Capital Real Estate AG already owns a commercial
property in this area.

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 100%. Letting space is 740 sqm. Current net cold rent is approximately
EUR 4.50 per sqm.

Purchase price is EUR 580,000 or EUR 780 per sqm. The purchase price
corresponds with a multiplier of 9 with annual net cold rental income, this
related to the typical net cold rent of EUR 7 per sqm for this area, which
is achievable for the company.

The purchase price will be paied by cash.

Based on this acquisition, the property portfolio of CR Capital Real Estate
AG grows by a further property eligible for the REIT status and to total
rental space of approximately 6,700 sqm.

About the Schönefeld/Waltersdorf area

According to current plans, on 30 October the first aircraft will start
from the new and only international airport of the Berlin/Brandenburg
region.

The Federal States of Berlin and Brandenburg expect additional 40,000 jobs.
A lot of project developers already acquired commercial space in the
airport area. Based on this strong demand, market values should grow
substantially.

About CR Capital Real Estate AG

CR Capital Real Estate AG ist a Berlin based property company and
owns the pre-REIT status. Major target is the REIT status with an
investment focus on residential properties.

Strategy is maximization of the residential quota (today 45%) and long-term
property management.

In case of market opportunities and under yield aspects, also investments
in commercial properties at locations with strong growth potentials (for
example airport area Schönefeld/Waltersdorf) will be done.

Regional investment focus of CR Capital Real Estate AG is the greater
Berlin/Potsdam area.

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

12.10.2009 Financial News transmitted by DGAP

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