Summit Germany Limited: Sale of Asset

RNS Number : 3471S

Summit Germany Limited

20 December 2016

 

Summit Germany Limited

(the "Company")

Sale of asset for €14 million

20 December 2016

Summit Germany Limited, the German commercial real estate company, is pleased to announce it has successfully sold a property located in Hamburg for a cash consideration of €14 million. The property is a vacant office building following lease expiry in September 2016.

The proceeds from this disposal are in line with the last independent property valuation and will be used to repay the borrowings associated with the asset.

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)

 

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