Peach Property Group acquires further residential properties in Lower Saxony and increases residential portfolio to 2,250 units
• Living space of 19,700 square metres
• Gross initial yield over 10 percent
• Attractive upside potential due to 50% vacancy rate to be realised through sustainable revitalisation measures
• Joint management with existing portfolio provides efficiency gains
Zurich, 4 April 2016 – Peach Property Group, an investor specialising in the management of residential property in Germany, today announced the notarisation of an agreement to acquire 287 apartments and 3 commercial units near its existing portfolio in Munster/Lower Saxony, further expanding the Group’s residential portfolio in this region. This acquisition rises the number of apartments owned by Peach Property Group to a total of 2,250 units, with the lettable floor area increasing by 19,700 square metres to a total of around 150,000 square metres. The closing of the transaction is expected to take place in May 2016.
The annual target rent of the properties, which were acquired out of a special situation, is around EUR 1.0 million (CHF 1.1 million). The residential portfolio has a vacancy rate of around 50 percent. Nonetheless, the residential portfolio’s initial gross yield is over 10 percent.
The newly acquired residential complex, which taken together constitutes a listed group of buildings, has a central location and attractive outside spaces. Peach Property Group will revitalise the residential portfolio in a sustainable manner, thereby reducing the vacancy rate considerably. The approach will be similar to one followed in the neighbouring “Gartensiedlung in der Lüneburger Heide” in Munster, where Peach Property Group succeeded in lowering the vacancy rate to under 5 percent through various revitalisation measures. Furthermore, the joint management of the existing residential portfolio in Munster and the new residential units acquired in its vicinity will result in considerable efficiency gains.
Dr Thomas Wolfensberger, CEO of Peach Property Group AG, said: “This latest acquisition increases our residential portfolio to more than 2,250 units. With this acquisition we have shown that we are able to purchase property at very favourable terms even in the current market situation. We managed to reduce the vacancy rate in our Munster portfolio substantially over the past few years and created attractive living space in the mid-price segment. This is an approach we will also pursue with our newly acquired residential portfolio. In addition, we will benefit from the joint management of these properties and the residential complexes situated nearby.”
About Peach Property Group AG
Peach Property Group is a property investor and developer focused on investments in Germany and Switzerland. The Group stands for long time experience, competence and quality. Innovative solutions for modern housing needs, strong partnerships and a wide value chain complete the profile of the Group. The portfolio consists of an increasing number of high yield investment properties, typically in B-cities in close reach to metropolitan areas. In addition, the Group develops properties for its own portfolio or for the sale as condominium. Developments for sale focus on A-locations and encompass attractive architecture and high level furnishing for an international clientele. The business activities of the Group cover the entire value chain, from property acquisition and site selection to active asset management and finally to the sale or lease of properties.
Peach Property Group AG is headquartered in Zurich and has its German Group headquarters in Cologne. Peach Property Group AG is listed on the SIX Swiss Exchange (PEAN, ISIN CH0118530366).
For more information, see www.peachproperty.com
Media, investors and analysts
Dr. Thomas Wolfensberger, Chief Executive Officer and Dr. Marcel Kucher, Chief Financial Officer
+41 44 485 50 00 | firstname.lastname@example.org
edicto GmbH, Axel Mühlhaus, Peggy Kropmanns
Eschersheimer Landstraße 42, 60322 Frankfurt am Main
+49 (0) 69 90 55 05 52 | email@example.com
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Peach Property Group acquires further residential properties in Lower Saxony and increases residential portfolio to 2,250 units here
News-ID: 329849 • Views: 592
More Releases from Peach Property Group AG
Peach Property Group resolves capital increase
Kreissparkasse Biberach becomes new anchor investor with 7.8% shares - 422,554 new registered shares issued from authorised capital - Kreissparkasse Biberach becomes Peach Property Group AG's second largest shareholder with 7.8% - Peach Property Group AG's free float remains at a high 70% - Proceeds will be used to finance acquisitions in residential real estate in Germany - First day of trading of new shares - 7 April 2017 Zurich, 4 April 2017 -
Peach Property Group tops up hybrid bond
• Private placement of CHF 12.5 Mio. with international investors • Issue volume increases to a total of CHF 37.5 million • Proceeds to be used for expanding the investment portfolio Zurich, 7. April 2016 – Peach Property Group, an investor specialising in the management of residential property in Germany, today announced that is has topped up its hybrid bond issued in December 2015 by an additional CHF 12.5 million by way of a private
Peach Property Group sells Gretag property in Regensdorf near Zurich
- Purchase agreement with Turidomus Anlagestiftung notarised - Transaction expected to be completed by the end of March 2016 - Net-Cash inflow of nearly CHF 70 million or CHF 14 per share - Solid balance sheet - further strengthening of equity ratio Zurich, 4 March 2016 - Peach Property Group AG, a leading investor in real estate, today announced the sale of its Gretag property in Regensdorf, Switzerland, along with the planned construction project
Peach Property Group announces agenda for the General Meeting to be held on 8 Ma …
Zurich, 9 April 2015 – Peach Property Group AG, a leading investor in residential and commercial real estate, today announced the agenda for its Annual General Meeting to be held on 8 May 2015 at 2pm in the Park Hyatt Hotel in Zurich. One of the proposals the Board of Directors will submit to the General Meeting is to create authorised capital of CHF 2 million. This proposal is intended
More Releases for Munster
Explore Why uPVC Doors Market Is Thriving Worldwide: Top Key Players – VEKA, R …
Up Market Research offers a latest published report on “Global uPVC Doors Market Research Report 2019” delivering key insights and providing a competitive advantage to clients through a detailed report. The report contains 100 pages which highly exhibit on current market analysis scenario, upcoming as well as future opportunities, revenue growth, pricing and profitability. Request Sample Copy Of this Report @ https://www.upmarketresearch.com/home/requested_sample/67486 uPVC Doors Market research report delivers a close watch on
UPVC Window and Door Market Analysis and Forecast 2018-2023 by Key Players VEKA, …
A report added to the rich database of Qurate Business Intelligence, titled “World UPVC Window and Door Market Research Report 2023 (covering USA, Europe, China, Japan, India, South East Asia and etc.)”, provides a 360-degree overview of the Global market. Approximations associated with the market values over the forecast period are based on empirical research and data collected through both primary and secondary sources. The authentic processes followed to exhibit
uPVC Windows Market Research Report 2018-2025 | Top Key Players - VEKA, Rehau, K …
UpMarketResearch offers a latest published report on “Global uPVC Windows Market Analysis and Forecast 2018-2025” delivering key insights and providing a competitive advantage to clients through a detailed report. The report contains 127 pages which highly exhibit on current market analysis scenario, upcoming as well as future opportunities, revenue growth, pricing and profitability. Get Exclusive FREE Sample Copy Of this Report @ https://www.upmarketresearch.com/home/requested_sample/28087 uPVC Windows Market research report delivers a close
UPVC Window and Door Market Report 2018 Companies included VEKA, Rehau, Koemmerl …
We have recently published this report and it is available for immediate purchase. For inquiry Email us on: firstname.lastname@example.org ********* This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in terms of volume, revenue, YOY growth rate, and CAGR for the year 2018 to 2025, etc. The report also provides
UPVC Window and Doo Market 2017 VEKA, Rehau, Koemmerling, Aluplast, Dimex, LG Ha …
Worldwide UPVC Window and Doo Market 2017 Analysis Report audits a Market Regions, Product Categories, with Sales, Business Revenue, Goods cost, UPVC Window and Doo piece of the overall industry and Growth patterns, concentrating on driving UPVC Window and Doo industry players, showcase size, request and supply examination, utilization volume, Forecast 2017 to 2022. The Global UPVC Window and Doo report gives a thorough situation of the present and gauge UPVC
Global UPVC Window and Door Market 2017 : Internorm, Everest, Munster Joinery, L …
A market study based on the "UPVC Window and Door Market" across the globe, recently added to the repository of Market Research, is titled ‘Global UPVC Window and Door Market 2017’. The research report analyses the historical as well as present performance of the worldwide UPVC Window and Door industry, and makes predictions on the future status of UPVC Window and Door market on the basis of this analysis. Get Free