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EQS-Adhoc: Peach Property Group acquires further property portfolio in North Rhine-Westphalia

| Quelle: Dow Jones Newswire Web | Lesedauer etwa 4 min. | Text vorlesen Stop Pause Fortsetzen
EQS Group-Ad-hoc: Peach Property Group AG / Key word(s): Real Estate
Peach Property Group acquires further property portfolio in North

13-Sep-2017 / 07:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR

*Press release *

*Peach Property Group acquires further property portfolio in North
Rhine-Westphalia *

*- Acquisition of a pure residential portfolio with 266 units in Bochum and
Hamm *

*- Target rent of around CHF 1.1 million (EUR 0.95 million) with a vacancy
rate of around 5%*

*- Existing residential portfolios in the area to deliver management
synergies *

*- Total residential portfolio increases to around 4,600 apartments, target
rent to around CHF 24.1 million *

Zurich, 13th September 2017 - Peach Property Group, an investor focused on
investments in residential property in Germany, today announced the
acquisition of further 266 residential units in North Rhine-Westphalia,
specifically 201 apartments in Bochum and 65 in Hamm. With a population of
365,000 and 180,000, respectively, Bochum and Hamm are among the 15 largest
cities in North Rhine-Westphalia. Both form part of the
Düsseldorf-Dortmund-Essen metropolitan area. The properties were sold by a
large, regional property company, and both parties have agreed not to
disclose the purchase price. The closing of the transaction is expected to
take place in late November.

Comprising a living area of around 14,300 square meters, the newly acquired
properties are situated close to the existing Peach Property Group
portfolios in Oberhausen, Duisburg and Mühlheim. This creates synergies in
managing the entire portfolio. Peach Property Group also plans to expand
tenant support as part of its active asset management approach and to
further enhance the already good overall state of the properties acquired
through moderate modernizations. Peach Property Group also aims to reduce
the current vacancy rate of 4.8 percent. The acquisition is expected to
increase the annual target rent for the Group's entire portfolio from around
CHF 23.0 million to just under CHF 24.1 million. The total property
portfolio of Peach Property Group increases to around 4,600 apartments as a
result of the acquisition.

Dr. Thomas Wolfensberger, CEO of Peach Property Group, comments: "The new
portfolio is a perfect match for our existing property holdings in the
region. We therefore expect to soon see both positive effects in managing
the apartments and a decrease in the vacancy rate."


*Media, investors and analysts*

Dr. Thomas Wolfensberger, Chief Executive Officer und Dr. Marcel Kucher,
Chief Financial Officer
+41 44 485 50 00 | investors@peachproperty.com

*Media Germany*

edicto GmbH, Axel Mühlhaus, Peggy Kropmanns
+49 (0) 69 90 55 05 52 | amuehlhaus@edicto.de

*About Peach Property Group AG*

Peach Property Group is a property investor and developer focused on
investments in Germany and Switzerland. The Group stands for long time
experience, competence and quality. Innovative solutions for modern housing
needs, strong partnerships and a wide value chain complete the profile of
the Group. The portfolio consists of an increasing number of high yield
investment properties, typically in B-cities in close reach to metropolitan
areas. In addition, the Group develops properties for its own portfolio or
for the sale as condominium. Developments for sale focus on A-locations and
encompass attractive architecture and high level furnishing for an
international clientele. The business activities of the Group cover the
entire value chain, from property acquisition and site selection to active
asset management and finally to the sale or lease of properties.

_Peach Property Group AG is headquartered in Zurich and has its German Group
headquarters in Cologne. Peach Property Group AG is listed on the SIX Swiss
Exchange (PEAN, ISIN CH0118530366). Its Board of Directors consists of Reto
Garzetti (President), Peter Bodmer and Dr. Christian De Prati._

_For more information, see _www.peachproperty.com [1]

Additional features:

Document: http://n.eqs.com/c/fncls.ssp?u=RMOWTXXVLY [2]
Document title: Press release
End of ad hoc announcement
Language: English
Company: Peach Property Group AG
Seestrasse 346
8038 Zürich
Phone: +41 44 485 50 00
Fax: +41 44 485 50 11
E-mail: investors@peachproperty.com
Internet: www.peachproperty.com
ISIN: CH0118530366
Valor: A1C8PJ
Listed: Regulated Unofficial Market in Berlin, Stuttgart; Open Market
(Basic Board) in Frankfurt; SIX Swiss Exchange

End of Announcement EQS Group News Service

609043 13-Sep-2017 CET/CEST

1: http://public-cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=c5bc331649cb106e1ca0ad6b4f4450d8&application_id=609043&site_id=vwd&application_name=news
2: http://public-cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=9fdf8a560453484c50cb66c56cf75cff&application_id=609043&site_id=vwd&application_name=news

(END) Dow Jones Newswires

September 13, 2017 01:00 ET ( 05:00 GMT)

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