PRESS RELEASE: Grand City Properties S.A. continues the growth plan and successfully acquires additional properties
Category: Word Press
PRESS RELEASE: Grand City Properties S.A. continues the growth plan and successfully acquires additional properties
DGAP-News: Grand City Properties S.A., / Key word(s): Real Estate Grand City Properties S.A. continues the growth plan and successfully acquires additional properties
02.01.2014 / 17:30
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GRAND CITY PROPERTIES S.A. Luxembourg, January 2, 2014.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, OR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF APPLICABLE LAWS OR REGULATIONS
Grand City Properties S.A. continues the growth plan and successfully acquires additional properties
Grand City Properties S.A. (the 'Company') successfully completed the acquisition of several portfolios. As of January 2014 the portfolio includes over 26,000 units and positions the Company's gross rental income run rate on approx. EUR170 million per year.
The Company intends to continue its growth in 2014 and currently is in advanced process of closing of several additional under-performing property portfolios with a total volume of more than EUR200 million.
The portfolios are consistent with the Company's business strategy, and the geographic distribution is with primary focus on North Rhine-Westphalia and Berlin.
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PRESS RELEASE: Grand City Properties S.A. continues the growth plan and successfully acquires additional properties
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