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Ad hoc announcement according to section 15 German Securities Trade Act as of April 19th, 2007
Hamburg, April 19, 2007 | ADLER Real Estate AG | ISIN: DE0005008007
- ADLER Real Estate AG sells two properties in Munich and Berlin
- Total proceeds of EUR 4.5 million
- Reversals in 2006 impact cash
ADLER Real Estate AG (ISIN: DE0005008007), Frankfurt, announced the sale of two plots in Munich and Berlin with total proceeds of EUR 4.5 million. The two plots of land were sold at the values recognised in the 2006 financial statements. Thus cash gains posted were realised in the context of the reversals.
The land located in Munich Dornach is in a largely developed business park. While part of the land had already purchased by an owner-occupier in 2000, the remaining land of over 9,200 sqm and development rights for approximately 10,700 sqm was not sold.
The second property in the Berlin Hellersdorfer Straße also changed hands. On a plot of conveniently located land with approximately 11,000 sqm there are two empty build-ings which require renovation with approximately 5,600 sqm useable space, divided into 110 residential units.
ADLER Real Estate AG is to invest the sales revenues of EUR 4.5 million in future projects. Confidentiality was agreed on any additional details of the sale.
The board
Hamburg, April 19, 2007
Company contact:
ADLER Real Estate AG
Neuer Wall 77
20354 Hamburg
www.adler-ag.de
Fon 040-29 81 30-0
Fax 040-29 81 30-99
info@adler-ag.de | Agency contact:
GFEI Gesellschaft für Effekteninformationen mbH
Tel.: +49 (0)69-743 037 03
Fax: +49 (0)69-743 037 06
ir-adler@gfei.de
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| NEWS |
share price
0,601 € (3.02.2012)
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