Eastern Property Holdings Completes Second Stag...

Eastern Property Holdings Limited (EPH) /
Eastern Property Holdings Completes Second Stage of Real Estate Transaction
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Eastern  Property Holdings  Ltd ('EPH')  has completed  the second  stage of the
transaction  in  which  a  private  real  estate investment group has acquired a
majority stake in two properties located on Petrovka Street in Moscow. The first
stage was completed on 29 June 2011.

Berlin  House and  Geneva House  were formerly  100% owned by EPH. Following the
first  stage in  the multi-stage  transaction, EPH  became 20% owner  of the two
properties.  Completion of this  second stage,  in which another 10% was sold to
the  same  investor  using  the  same  valuation, brings EPH's ownership in each
building  to 10%. EPH will retain  these stakes in the  two trophy properties in
order to participate in their potential future appreciation.

In  February 2011, the former EPH subsidiary which owned Geneva House drew a US$
40 million  investment loan facility secured by the property. The two-year loan,
which  was at an  interest rate of  9.75%, has now been  repaid. EPH and the new
majority owner have each paid their pro rata share of the loan amount.



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Eastern  Property  Holdings  Ltd.  is  an  SIX Swiss Exchange-listed real estate
development  company focusing on Russia. The  company holds interests in office,
residential,  retail  and  parking  properties  and developments, principally in
Moscow  and  St.  Petersburg.  EPH  is  managed by Valartis International Ltd. a
wholly-owned  subsidiary of Valartis Group AG. Additional information on Eastern
Property Holdings is available by contacting Terry Olin, Tel: [phone].

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Eastern Property Holdings Limited (EPH)
Valartis Asset Management SA/Case Postale 3458 Geneva Switzerland

WKN: 250817;ISIN: VGG290991014;

Media Release (PDF): 


http://hugin.info/139905/R/1538539/469937.pdf




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Source: Eastern Property Holdings Limited (EPH) via Thomson Reuters ONE

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