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.
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For further information please contact:
Summit Germany Limited |
Tel: +44 (0)20 7451 7050 |
Zohar Levy - Managing Director |
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Harry Hyman - Non-Executive Chairman |
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Itay Braun - Finance Director |
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Carey Group, Company Secretary |
Tel: +44 (0)1481 700 300 |
Sara Bourne |
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Cenkos Securities, Nominated |
Tel: +44 (0)20 7397 8900 |
Adviser and Joint Broker |
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Ivonne Cantu (Nomad) |
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Russell Kerr / Selwyn Jones (Broking) |
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Liberum Capital Limited, Joint Broker |
Tel: +44 (0)20 3100 2222 |
Chris Bowman / Jill Li |
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Broker Profile |
Tel: +44(0)20 7448 3244 |
Simon Courtenay / Harry Rippon |
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