Portfolio Update

RNS Number : 3173Y

Summit Properties Limited

31 December 2019

 

Summit Properties Limited

("Summit" or the "Company")

Portfolio Update

31 December 2019

Summit Properties Limited, the German commercial property company, announces that further to its announcement of 19 June 2019 regarding the disposal of a German office building for a cash consideration of €225 million, the conditions precedent for completion of the disposal have been satisfied and completion is expected today.

In addition, a 77% owned subsidiary of the Company has signed an agreement to acquire an office building of 4,700 sqm in Hannover for ca. €6.5 million. The acquisition improves the Company's presence in this location as the acquired property is attached to another property owned by the Company.

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]

Chris Le Page / Nikolett Mezei

Liberum Capital Limited, Nominated Adviser and Joint Broker       Tel: [phone]

Chris Clarke / Gillian Martin / Owen Matthews

Cenkos Securities, Joint Broker                                                                     Tel: [phone]

Mark Connelly

Russell Kerr / Selwyn Jones (Broking)

 

END

 

 

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