Acquisition

RNS Number : 8758A

Summit Germany Limited

01 October 2015

 



Summit Germany Limited

("Summit Germany" or the "Company")

Acquisition of the remaining part of a property complex in Stuttgart

Further to the announcements made on 3 June 2015 and 11 August 2015, Summit Germany, the AIM-listed German commercial property investment company, is pleased to announce that, with an asset acquisition of €5 million, it has now completed the acquisition of the entire property complex in Stuttgart from CMC Capital.

The Stuttgart property complex is built over land of ca. 135,000 sqm and has a lettable area of ca. 63,000 sqm. The annual net rent totals ca. €4.5 million p.a. with an expected NOI of €4.1 million.

Summit Germany Limited
Zohar Levy - Managing Director
Harry Hyman - Non-Executive Chairman	Tel: [phone]
Itay Braun - Finance Director
Carey Group, Company Secretary	Tel: [phone]
Sara Bourne
Cenkos Securities, Nominated Adviser	Tel: [phone]
and Joint Broker
Ivonne Cantu (Nomad)
Russell Kerr / Selwyn Jones (Broking)
Liberum Capital Limited, Joint Broker	Tel: [phone]
Chris Clarke / Jill Li
Broker Profile	Tel: [phone]
Simon Courtenay / Harry Rippon

 

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