Ad hoc disclosure according to Section 15 of the WpHG
Frankfurt, 24 April 2015 - WCM Beteiligungs- und Grundbesitz-AG (WCM AG, ISIN: DE000A1X3X33) today secured the acquisition of a commercial portfolio of 16 properties based on a memorandum of understanding. About half of the commercial properties with a total rental space of approx. 88,500 square metres are located in the Rhine-Main region and about half are located in Dresden. The initial rental yield based on the net purchase price of approx. EUR 116 million is approx. 8 percent. The occupancy rate is currently approx. 91 percent, and the leases have an average remaining term of 5 years. Completion of this transaction is scheduled for October 2015.
Leveraging the favourable conditions currently available, the Company intends to finance the portfolio acquisitions through bank loans and equity measures.
About WCM AG
Reflecting its strategic realignment implemented in 2014, WCM Beteiligungs- und Grundbesitz-AG (WCM AG) intends to position itself as one of the leading commercial property companies in Germany. As a holder of office and retail properties with a focus on major office locations, the company is on a dynamic growth path. In the mid-term WCM AG plans to build a portfolio with a value exceeding EUR 1 billion. The company utilises a comprehensive network for the acquisition of properties and value-enhancing portfolio management in order to generate long-term attractive rental income and a steady cash flow. WCM AG also intends to leverage further opportunities offered by the property market. The company's management, headed by CEO Stavros Efremidis, has extensive experience in the German property market in connection with the acquisition and management of properties and many years of capital market experience. The company has substantial corporate and trade tax loss carryforwards available. WCM AG (ISIN DE000A1X3X33) is listed on the Frankfurt Stock Exchange's General Standard.
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