- POSITIVE IMPACT OF APPROX 10 MILLION EURO ON PRELIOS NET FINANCIAL POSITION
- THE PRELIOS GERMAN PLATFORM ALSO BENEFIT FROM APPROX €1 MILLION INEBIT TERMS FOR AGENCY FEES
Milan, 02nd July 2012 – The Prelios Group announces that the Resident Berlin 1P&K GmbH, ajoint venture participated by Prelios, has signed a contract to sell 1,503 residential units to aGerman institutional investor. The properties are located in Berlin, and their vacancy rate is lessthan 2%.
The transaction was concluded for 93 million euro, in line with market values, and generated an impact on the Prelios Net Financial Position of approx. 10 million euro.
Moreover the Prelios German services platform benefits from the positive effect on the operating result of about 1 million euro, deriving from the fees relating to the sale of theassets.
Prelios will continue to provide management services for the portfolio sold for a period of around12 months.