MAGNAT Real Estate Opportunities GmbH & Co. KGaA / Miscellaneous
26.05.2010 14:30
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MAGNAT Asset Management GmbH acquires another builders model entity in
Vienna, Austria
- Further builders model entity acquired in an attractive location in
district 3 of the city of Vienna (Austria)
- The property occupies a plot measuring about 1,300 m² (approx. 14,000
square feet) in area, with building floorspace of some 1,100m² (approx.
11,800 square feet)
- MAGNAT is now proceeding with a second builders model entity, in
addition to the venture in Vienna's Kastnergasse (in district 17)
Frankfurt am Main (Germany), 26th May 2010 - During the last week, the
Vienna (Austria)-based firm MAGNAT Asset Management GmbH, a subsidiary of
the listed company MAGNAT Real Estate Opportunities GmbH & Co. KGaA
(MAGNAT), has acquired a new property for a further builders model in
Vienna. After the successful positioning of the builders model
'Schumanngasse' (in district 18) and the initiation of sales relating to
the builders model 'Kastnergasse' (in district 17), the Rennweg project (in
district 3) is the third builders model entity currently being set in
motion. In the course of this endeavour, the MAGNAT Group is intensifying
the implementation of its strategy via its Austrian subsidiary MAGNAT Asset
Management GmbH, as part of a clear effort to promote its builders model
entity
business.
The 'Rennweg' entity concerns a plot measuring more than 1,286m² (13,800
square feet) in area. Plans envisage the construction of apartments with a
total floor area of around 1,000m² (10,700 square feet). Some ten to
thirteen TOPS apartment with a floor area of between 45m² - 90m² (approx.
480 to 970 square feet) distributed across five upper floors are planned,
along with a penthouse floor and about 13 outdoor and 17 covered parking
spaces. The plan also envisages commercial premises on the ground floor,
with a floorspace of about 62m² (approx. 660 square feet).
MAGNAT Capital Markets GmbH will be handling sales for this
project-management entity. The company has already successfully positioned
the Schumanngasse project, and is currently marketing the Kastnergasse
venture.
As MAGNAT CEO Jan Oliver Rüster puts it: 'This acquisition is the
confirmation of our declared strategy of consistently promoting our
builders model business in Vienna. The successful positioning of a
project-management entity in January 2010, which was associated with a
highly-satisfactory return on investment, shows both that our strategy is
the right one and that our market expertise is bearing fruit.'
About MAGNAT:
MAGNAT Real Estate Opportunities GmbH & Co. KGaA is the first Frankfurt
stock exchange-listed real-estate company to focus on the development of
the property sector in the urban areas of Eastern Europe, Austria and
Germany.
MAGNAT has developed into an integrated property group, capable of covering
the entire value-added chain from initial acquisition and development to
the sale of projects and building land. The group also offers, via its
subsidiaries MAGNAT Asset Management GmbH and MAGNAT Asset Management
Deutschland GmbH, specialist property-asset management services for third
parties.
MAGNAT's strategy is to take advantage of the inefficiencies of the
property market. In contrast to the traditional 'buy and hold' approach,
MAGNAT follows a 'develop and sell' or 'buy and sell' strategy that focuses
on property development, complemented with portfolio trading.
MAGNAT's investors get to participate in development profits in eastern and
southern Europe and the Commonwealth of Independent States (CIS), along
with Germany and Austria.
MAGNAT is set to become a German-registered joint stock ('AG') company by
the end of the third quarter of 2010.
CONTACT:
MAGNAT Real Estate Opportunities GmbH & Co. KGaA
Dominic Köfner, CIRO
Head of Corporate Communications
Lyoner Strasse 32
60528 Frankfurt am Main, Germany
Tel.: +49 (0)69 719 189 79 36
e-mail: dominic.koefner@magnat-reop.com
www.magnat-reop.com
Press relations
edicto GmbH
Axel Mühlhaus / Werner Rüppel
Tel.: +49 (0) 69 905 50 55 2
e-mail: amuehlhaus@edicto.de
26.05.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: MAGNAT Real Estate Opportunities GmbH & Co. KGaA
Lyoner Straße 32
60528 Frankfurt am Main
Deutschland
Phone: +49 (0)69 / 719 189 79 0
Fax: +49 (0)69 / 719 189 79 11
E-mail: info@magnat-reop.com
Internet: www.magnat-reop.com
ISIN: DE000A0XFSF0
WKN: A0XFSF
Listed: Regulierter Markt in Frankfurt (General Standard);
Freiverkehr in Berlin, Stuttgart
End of News DGAP News-Service
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