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

 

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