Peach Property Group acquires 116 apartments in Northern Hesse to expand its portfolio to over 2,000 apartments

• Agreement for further portfolio acquisition notarised
• Annual rental income of around CHF 0.6 million; almost fully let
• Lettable space of more than 8.300 square metres
• Closing of the transaction expected in April 2016

Zurich, 22 March 2016 – Peach Property Group, an investor focused on residential property in Germany, today announced the notarisation of the agreement to acquire 116 apartments south of Kassel, thereby successfully expanding its existing residential portfolio in Northern Hesse. This transaction raises the number of apartments owned by Peach Property Group to a total of 2,034 units, with the lettable floor area increasing by 8.300 square metres to a total of 137.000 square metres. The closing of the transaction is expected to take place in April 2016.

The newly acquired apartments generate annual rental income of around CHF 0.6 million and are almost completely let. Due to the buildings’ excellent structural condition, there is no short or medium term need for refurbishment.

Dr. Thomas Wolfensberger, CEO of Peach Property Group, comments: “With this transaction, we are successfully continuing our strategy of enhanced and value-added portfolio management with a focus on residential properties in Germany. By expanding our investment portfolio in North Hesse, we also increase our efficiency in managing the portfolios.”

Contact:

Media, investors and analysts

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

German media

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

Download Media Release as pdf

About Peach Property Group AG

Peach Property Group AG 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).

For more information, see www.peachproperty.com

Written March 22nd, 2016.