solidare acquires property in Düsseldorf area
Malta, January 3, 2017: solidare real estate holding plc («solidare ») (MT0000580101 / A1JGT0 / XNH), a real estate company specializing in the growth market of micro-apartments, acquired a property in Neuss, the immediate neighbor city of Düsseldorf. This is a purposeful transaction in solidare’s growth strategy. The purchase contract has been concluded on December 23, 2016.
The property is going to be refurbished to a residential and commercial building in the coming months. It is currently empty and was previously utilized as an office building by a Federal Agency. The building has a gross rental space of 15,000 m² plus underground parking.
“This property fulfills all our purchase criteria and fits perfectly into our portfolio”, says Zeki Yigit, CEO of solidare. “We are increasing the number of our micro-apartment units to over 1,000 in the Düsseldorf area alone. Düsseldorf registers the highest demand for such living space in Germany.”
Everything to develop and convert the building into attractive micro-apartments will be done by specialized subsidiaries of solidare, ranging from projecting to planning, conversion construction and the rental concept.
solidare is constantly and actively looking for properties like this one in order to achieve its strategic goal to become one of the leading providers of micro-apartments in Germany. Large, empty office buildings in regional capital cities or university towns are of particular interest to solidare.
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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.
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.