DGAP-Ad hoc: InCity Immobilien AG

INCITY PURCHASES PROPERTY IN THE FRANKFURT CITY CENTER
 

• Further fully let residential and office building acquired in the immediate vicinity of the "Zeil" shopping district
• The change in ownership and transfer of risks and rewards is to take place at the beginning of 2018

Frankfurt am Main, December 18, 2017 - InCity Immobilien AG has acquired a six-story residential and office building with mainly residential units in Frankfurt am Main, in the immediate vicinity of the "Zeil" shopping district, through a subsidiary, expanding its property portfolio by an eighth building.
 

The property is located at Stiftstrasse 18-20 and is fully let with a rentable area of approximately 1,500 sqm, about 60% of which are allotted to residential space. The property currently generates gross rental income of approximately EUR 365k annually. The parties have agreed not to disclose the purchase price.
 

Due to the property's micro-location in the Frankfurt am Main city center in the immediate vicinity of the "Zeil" shopping district as well as the extensive modernization measures carried out in 2015, long-term value stability is predicted.
 

In addition to the field of office and commercial portfolio properties, InCity plans to develop its apartment portfolio as a smaller source of income in the medium term. With the acquisition of the property at Stiftstrasse 18-20, the residential portfolio of InCity now includes approximately 90 apartments.
 

Reporting and contact person:
Helge H. Hehl, CFA
CFO
InCity Immobilien AG
Beethovenstrasse 71
60325 Frankfurt am Main, Germany
Phone: +49 (0)69 7191889 55
E-mail: ir@incity.ag

Language: English
Company: InCity Immobilien AG
Beethovenstrasse 71
60325 Frankfurt am Main
Germany
Phone: IR: +49 (0)69 7191889 55 PR: +49 (0)69 7191889 66
Fax: +49 (0)69 719 18 89 790
E-mail: ir@incity.ag
Internet: www.incity.ag
ISIN: DE000A0HNF96
WKN: A0HNF9
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Basic Board), Stuttgart, Tradegate Exchange