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InCity Immobilien AG
Regulatory Filings • Jul 9, 2018
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Regulatory Filings
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Ad-hoc | 9 July 2018 18:22
InCity Immobilien AG: INCITY SEIZES OPPORTUNITY AND SELLS PROPERTY AT SCHÄFERGASSE 38/40 IN FRANKFURT AM MAIN
InCity Immobilien AG / Key word(s): Disposal
InCity Immobilien AG: INCITY SEIZES OPPORTUNITY AND SELLS PROPERTY AT SCHÄFERGASSE 38/40 IN FRANKFURT AM MAIN
09-Jul-2018 / 18:22 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
INCITY SEIZES OPPORTUNITY AND SELLS PROPERTY AT SCHÄFERGASSE 38/40 IN FRANKFURT AM MAIN
- Opportunity seized and book profit realised
- The change of ownership and transfer of risks and rewards shall take place in the second half of 2018
- Continued focus on expanding the property portfolio
Frankfurt am Main, 9 July 2018 – Together with a project partner, InCity Immobilien AG has sold the residential and commercial property located at Schäfergasse 38/40 in Frankfurt am Main to a third party through the subsidiary IC Objekt7 Frankfurt GmbH. The company’s property portfolio now consists of nine properties.
The sold property located at Schäfergasse 38/40 in the immediate vicinity of the “Zeil” shopping area was purchased with a notarised deed of sale as of 15 November 2017 together with a project partner. InCity holds 51% of the shares in the selling subsidiary and the project partner holds 49%. Both shareholders agree that an excellent opportunity was seized with today’s notarised deed of sale by means of an asset deal and that a book profit will be realised in a relatively short time. The parties have agreed not to disclose the selling price. The change in ownership and transfer of risks and rewards shall take place by the end of 2018.
Despite this sale, the expansion of the property portfolio remains the focus of InCity Immobilien AG’s activities. Nevertheless, the company will take advantage of opportunities for sale if this is in the best interest of InCity Immobilien AG and its shareholders.
Reporting and contact person:
Helge H. Hehl, CFA
CFO
InCity Immobilien AG
Beethovenstrasse 71
60325 Frankfurt am Main, Germany
Phone: +49 (0)69 7191889 55
E-mail: [email protected]
09-Jul-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| 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: | [email protected] |
| 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 |