Completion of acquisition

RNS Number : 6704V
Summit Germany Limited
11 August 2015
 



Summit Germany Limited

 

("Summit Germany" or the "Company")

 

Completion of acquisition of property complex in Stuttgart

 

11 August 2015

 

Summit Germany, the AIM-listed German commercial property investment company, is pleased to announce that it has successfully completed the acquisition of ca. 90% of a 135,000 sqm €55 million property complex in Stuttgart, which was announced on 3 June 2015. The complex has a lettable area of ca. 63,000 sqm and generates net rent of ca. €4.5 million p.a. with an expected NOI of €4.1 million.

 

The agreement for the acquisition of the remaining part, ca. 10% of the properties, is binding and its completion is expected in the next weeks.

 

-ends-

 

For further information please contact:

 

Summit Germany Limited

Tel: +44 (0)20 7451 7050

Zohar Levy - Managing Director

 

Harry Hyman - Non-Executive Chairman

 

Itay Braun - Finance Director

 

 

 

Carey Group, Company Secretary

Tel: +44 (0)1481 700 300

Sara Bourne

 

 

 

Cenkos Securities, Nominated

Tel: +44 (0)20 7397 8900

Adviser and Joint Broker

 

Ivonne Cantu (Nomad)

 

Russell Kerr / Selwyn Jones (Broking)

 

 

 

Liberum Capital Limited, Joint Broker

Tel: +44 (0)20 3100 2222

Chris Bowman / Jill Li

 

 

 

Broker Profile

Tel: +44(0)20 7448 3244

Simon Courtenay / Harry Rippon

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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