Opera One AG: Business performance and outlook 2012

Corporate News
No. 04/2012

OperaOne AG: Outstanding margins of up to 25% in top areas of Frankfurt

Frankfurt / Main, March 26, 2012 - OperaOne AG, a project developer for high-quality residential real estate in Frankfurt am Main, was once again able to acquire a plot of developed land in an absolutely top location in Frankfurt.
The project is close to Schweizer Platz in one of Frankfurt's most popular areas. Ralph Jerey, CEO of OperaOne AG, is delighted with the acquisition of a fourth project: 'Frankfurt in particular continues to offer an excellent market environment with a good price level and upbeat demand. Following the recent sale of the project in the Westend with an overall margin of 25%, we are particularly delighted to have once again succeeded in acquiring such a prime site!'

Ralph Jerey is also confident for the financial year 2012: 'Our 'Westend Suites' project is currently proceeding according to schedule, as is the recently acquired property in Sachsenhausen. We are in advanced sales negotiations for the latter and are confident of being able to sell this property swiftly and profitably. We are now looking for further new projects in the Frankfurt urban area and we are already holding concrete negotiations on a number of possible sites.'

Company profile

OperaOne AG is a project development company that specialises in the acquisition, development and sale of high-quality residential real estate. The company focuses its investments on the inner city area of Frankfurt am Main. This includes the popular city districts of Westend, Nordend, Holzhausenviertel, Sachsenhausen and Europaviertel, among others. The company primarily purchases existing residential and commercial properties that offer the potential for expansion and alternative utilisation. The targeted project-related investment volume is between EUR 5 million and EUR 40 million. The acquired properties are to be realised on the basis of modern, high-quality residential concepts with a focus on the sustainability aspects of residential quality and economic and energy efficiency, before being sold.
The company is currently developing the 'Westend Suites' residential project in Frankfurt's West End. This residential building, which is being renovated to high-quality standards, contains 42 apartments and five penthouses entailing a total living area of around 4,219 m². It is located between the Mendelssohnstrasse and Arndstrasse in parallel with the Bockenheimer Landstrasse. The company aims to complete the project by the first quarter of 2012, before selling the Westend Suites as part of a global sale. In addition, OperaOne plans and runs further projects in the inner city area of Frankfurt.
OperaOne AG has set itself the long-term objective of becoming a leading project developer of high-quality residential real estate in Frankfurt am Main. The company also aims to realise this objective in the form of joint ventures in other development companies' projects. Over the past 20 years, OperaOne AG's management has developed and realised many comparable properties in top Frankfurt locations. Based on an extensive and established network that includes real estate agents, city planners, investors and project developers, the company has created an attractive project pipeline.

Contact:

OperaOne AG
Ralph Jerey
Tel.: +49 (0)69 - 920374-106
Fax: +49 (0)69 - 920374-100
E-Mail: jerey@operaone.de