New debt facility

RNS Number : 8550S

Summit Germany Limited

28 December 2016

 

Summit Germany Limited

(the "Company")

€16m new debt facility

28 December 2016

Summit Germany Limited, the German commercial real estate company, is pleased to announce that it has successfully financed an office building located in Potsdam.

The property, with a lettable area of 11,000 square meters is 94% let and generates an aggregate annual net rent of € 1.4 million. It was acquired in 2015 from the Company's own sources. 

The new €16m debt facility was provided by a German lender on a 10 years term at a fixed interest rate of 1.76% p.a. and annual amortisation rate of 3.0%.

For further information please contact:

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

 

END

 

 

IODKVLBLQLFEFBF