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Münchener Baugesellschaft invests in Bavaria
Message in accordance with the § 15 WpHG [German Se-curities Trading Act] / Press release
- Adler Subsidiary acquires an approx. 28,000-sqm-sized plot of land
- Development to prepare for building work, parcelling and sale planned
Hamburg, 23 October 2007. ADLER Real Estate AG, Frankfurt, is continuing to expand its residential property development business via its subsidiary Münchener Baugesellschaft mbH, Hamburg. The subsidiary has acquired an attractive, ca. 28,000-sqm-sized plot in Moosburg on the river Isar in the Freising district. The investment volume amounts to ca. 8 million EUR. The Münchener Baugesellschaft will prepare the plot for building work, develop it and then parcel it out. The entire 57 parcels created in this manner will be able to be built on with semidetached houses and single-family houses. The intention is to sell the plots which are ready for building to private building owners who wish to erect or have their residential real estate built upon the parcels. At the same time, a business management contract for this project has been signed with THG Real Estate in Munich.
The "Am Mühlbachbogen Nord" plot in the southern area of the city of Moosburg is located in the attractive growth region near the Munich Airport and the Bavarian state capital city itself - a popular location, particularly for young families with children. The development of the area will take approx. eight months. At present, the Münchener Baugesellschaft is already developing three residential building projects in Dallgow and in Großbeeren, respectively near Berlin and in Alt-Trachau in Dresden.
"The demand for building plots in the region is very high because the real estate prices in the area are still reasonable for many interested parties in comparison with the Munich city area itself", says Dr. Ralph-René Lucius, Managing Director of the Münchener Baugesellschaft, "we are thus assuming that there will be very good demand for our fully developed parcels."
About ADLER Real Estate AG: ADLER Real Estate AG is active as a real estate com-pany in the business fields of asset management, portfolio properties and. project development The core competence of the company consists in the realisation and marketing of challenging national and international real estate projects. For large projects, ADLER Real Estate AG enters into targeted strategic partnerships. ADLER Real Estate AG was created from the Frankfurt Adler Factories with a rich tradition, the history of which extends back into the 19th century. Today, the majority ownership of ADLER Real Estate AG is held by the U.S. real estate investor Mezzanine IX.
Hamburg, October 23, 2007
If you may have any request please refer as follows:
german communications dbk ag
Jörg Bretschneider
Alsterufer 34, 20354 Hamburg
Tel.: 040/46 88 33 0, Fax: 040/47 81 80
presse@german-communications.com
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