Commercial real estate

Property Press Releases

2009-08-07

Message delivered via Vivacon AG. The emitter takes responsibility for the content.

Germany | Property Sale, Running Deal Commercial Property, Commercial property

Vivacon AG sells residential real estate portfolio and ground lease properties

Germany: Vivacon AG sold a residential real estate portfolio in the context of the current restructuring process. The portfolio, which is mainly located in Western Germany, consists of more than 2,400 residential and commercial units with a total area of more than 146,000 sqm.

Beside the cash inflow from the disposal price, the disposal leads to a reduction of bank liabilities in the amount of approximately EUR 83m. Moreover, Vivacon AG sold a portfolio of ground lease properties.

It was agreed not to disclose the disposal price and further details of both transactions.

A further component of the ongoing restructuring efforts is the filing of insolvency for a further subsidiary. The subsidiary solely owns 38 residential units in Hameln.

for Vivacon AG - 2009-08-07

Announcement by Vivacon AG. The originator takes responsibility for its content.

Property Press Releases

Log-In

Username

Password

Become a member for free

RSS-IconRSS-Feed

Press releases

Publish your press releases here

REFIRE - Real Estate Intelligence Report

The REFIRE Intelligence Report brings you the inside story of German real estate finance - twice a month.

Find information and a free trial subscription!

Company

Register with our Business-Guide here