Press release
solidare sells residential portfolio
Malta, December 5, 2016: solidare real estate holding plc («solidare») (MT0000580101 / A1JGT0 / SRH) has sold its Pilatus portfolio through one of its Düsseldorf based subsidiaries. The buyer is an investment fund managed by ZBI Zentral Boden Immobilien Gruppe, Erlangen, which specializes in residential properties in German metropolitan areas.
“This transaction has resulted in a welcome profit and a sizeable cash inflow for solidare,” says CEO Zeki Yigit. “The cash will enable us to strengthen and develop solidare’s core business in order to become the leading go-to place for Micro Living in Germany.”
Mark Münzing, Member of the Management Board of ZBI Gruppe, says, “This is another successful transaction with the representatives of the solidare group, which are known for quality properties and especially for a high level of transaction security.”
Micro Living Apartments rank among the most dynamic real estate niches with above average growth rates. The scarce supply of modern and attractive apartments of up to 50 m² meets a huge demand, especially from students, commuters and elderly people. solidare’s strategy is to build a portfolio of micro apartments and capture the long-term value potential as well as the recurring revenue stream. Such projects are currently under development in Düsseldorf, where solidare is building and developing more than 1,000 apartments.
The Pilatus portfolio comprises 370 units in 23 properties located in Bochum, Duisburg, Essen, Krefeld, Mönchengladbach, Solingen and Wuppertal. Total rental space is some 23,000 m².
IR contact
Torsten Graf
NewMark Finanzkommunikation GmbH
Zum Laurenburger Hof 76
60594 Frankfurt
Telefon: +49/ 69/ 94 41 80 64
Telefax: +49 / 69 / 94 41 80 – 19
Email: ir@solidare.de
www.solidare.de
About solidare
solidare real estate holding plc. is a listed real estate company that specializes in the growth market of micro-apartments, predominantly in Germany. Micro-apartments are furnished residential units with a floor area of between 20 and 50 m², which are mainly rented by singles, students, commuters and the elderly. The principal shareholder and CEO Zeki Yigit has been involved in real estate development for more than 15 years. With around 300 employees, solidare covers the entire value-creation chain from real estate identification, the structuring of the acquisition and financing, the planning and execution of the construction or conversion activities, marketing, ongoing administration and facility management. The Group pursues a dedicated growth strategy that aims at consolidating the market segment and enhancing efficiency by exploiting the comprehensive nature of the internal service portfolio.
Disclaimer:
This release may contain forward-looking statements based on current assumptions and forecasts made by the management of solidare or its affiliated companies. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of solidare and its affiliated companies and the estimates given here. Neither solidare nor its affiliated companies assume any liability to update these forward- looking statements or to adapt them to future events or developments.