DEMIRE completes purchase of T6 real estate portfolio
Ad hoc announcement according to section 15 WpHG
- Premium over EPRA-NAV under the current takeover offer to the shareholders of Fair Value REIT-AG now amounts to roughly 10.02 %
Frankfurt/Main, 30. October 2015 – DEMIRE Deutsche Mittelstand Real Estate AG (“DEMIRE”, ISIN DE000A0XFSF0) today completed the purchase of a 94% interest in Germavest Real Estate S.à r.l. (“Germavest”). Germavest owns a commercial real estate portfolio containing 143,788 m² of rental space as well as 1,171 underground and free-standing parking spaces (the “T6 real estate portfolio”) in the cities of Ansbach, Bonn, Flensburg, Regensburg and Stahnsdorf. All six locations have longterm rental contracts with Deutsche Telekom AG. The acquisition cost for the purchase of the T6 real estate portfolio was raised by EUR 2.9 million due to a change in the financing structure whereby the originally expected positive effect on DEMIRE’s equity – and therefore DEMIRE’s EPRA-NAV – from the acquisition of the T6 real estate portfolio has decreased.
Taking into account the purchase of the T6 real estate portfolio and due to the higher acquisition costs, DEMIRE’s newly calculated EPRA-NAV per DEMIRE share (adjusted and diluted) as of 30 October 2015 amounts roughly to EUR 4.484. Assuming an unchanged EPRA-NAV of Fair Value REIT-AG of roughly EUR 8.151 per Fair Value share (adjusted and diluted), the premium over the EPRA-NAV offered to Fair Value REIT-AG shareholders under DEMIRE’s voluntary public takeover offer amounts to approximately 10.02%.
The Executive Board
The information in this release contains forward-looking statements that are subject to various risks and uncertainties. Such forward-looking statements are based on current forecasts, expectations and estimates of DEMIRE’s Executive Board at the time of their publication. Such statements constitute neither promises nor guarantees and are subject to various known and unknown risks and uncertain-ties, some of which are beyond DEMIRE’s influence. These risks and uncertainties may lead to actual results differing materially from statements that are mentioned herein. DEMIRE accepts no obligation to update or adjust the forward-looking statements contained in this release to reflect events or circumstances after the date of this release.