DGAP-News: GIEAG Immobilien AG: GIEAG reports 100% sale of BV DER KIRSCHGARTEN in Geretsried

GIEAG reports 100% sale of BV DER KIRSCHGARTEN in Geretsried

- All 68 apartments in three buildings sold

- Building work on schedule

Munich, 12 June 2018. GIEAG Immobilien AG (GIEAG) celebrated the sale of all 68 apartments and the on-track building progress as part of a summer fête at the property. Guests included the buyers, the planning architects and specialist engineers as well as Geretsried's First Mayor, Mr Müller, the Third Mayor, Mr. Meinl, and a member of the Managing Board of Sparkasse Bad Tölz-Wolfratshausen, Mr. Spindler. Cherry trees were handed over with a symbolic cutting of red tape.

The team at BARTSCH Immobilien GmbH was responsible for successfully marketing the project.

Philipp Pferschy, a member of GIEAG's managing board, commented: "We are very pleased that the interest in our project, which was perceptible even during the planning phase, has been confirmed with a 100% sale, and we have met our own claim - according to which properties are not only an asset deal but also create sustainable assets. In parallel to the 68 owner-occupied apartments sold, we are also creating a multi-family building with 30 rented apartments, which is being subsidised with funds from the Bavarian Residential Construction Program. Here too we can already see high demand from tenants even months before completion of the project."

About GIEAG Immobilien AG (GIEAG)

GIEAG is a family-run Munich based, public limited real estate company. Shares of GIEAG Immobilien AG are traded on the Munich stock exchange. GIEAG's team of experts guarantees innovative and future-proof concepts. The combination of three asset classes - office, residential and logistics - and its two areas of activities - development and investment - means that the company has a stability that is unique on the market. During the past 18 years GIEAG Immobilien AG has developed and optimised a large number of real estate projects ranging in size from between 1,500 m² to 145,000 m² and with individual investment amounts of up to EUR 100 million. A partner-like approach, consistency, secure transactions and speed form the basis of GIEAG's sustainable value growth.

Contact

GIEAG Immobilien AG
Investor Relations, Philipp Pferschy
Oettingenstraße 35
80538 Munich
ir@gieag.de
Telephone: +49 89 290516-0

edicto GmbH
Axel Mühlhaus, Peggy Kropmanns
amuehlhaus@edicto.de
Tel.: +49 69 905505-52