EVAN Group plc.
EVAN Group plc.: completes project in trendy Berlin neighbourhood with a profit
DGAP-News: EVAN Group plc. / Key word(s): Real Estate/Disposal – EVANGroup sells Prenzlauer Promenade 5-8 in Berlin
– Development expertise and rapid market growth in Berlin lead to high increase in value
EVAN originally acquired the Prenzlauer Promenade 5-8 property with the intention of integrating it into the livinit concept. The livinit concept envisages the development and management of new housing forms such as micro-apartments by EVAN. During the planning phase, it became apparent that there was a high potential for appreciation, an increase in value that also reflects the rapid development of the market in Berlin. From this vantage point, EVAN classified the property as an opportunistic investment and found an ideal buyer in Cresco Capital Group, an enterprise that is perfectly suited to continue the planned project. “The Prenzlauer Promenade is an outstanding address for innovative housing projects, especially for students and professionals. We are pleased to have been able to pave the way with our expertise,” says Dr. Michael Nave, Director and CEO of EVAN. “Our divestment now opens up opportunities for us in other projects to create urgently needed, affordable living space. Furthermore, this highlights our ability to adjust the evaluation of our investments to current market trends and to quickly and profitably divest assets if necessary.” “The acquisition of the property on the Prenzlauer Promenade is an attractive addition to our fund’s portfolio and once again, demonstrates our access to interesting real estate for development in great locations. We are happy for our investors and are looking forward to the forthcoming development,” says Alexander Bürk, Founding Managing Partner of Cresco Capital Group. Both parties have agreed not to disclose the purchasing price. About EVANGroup plc: EVANGroup plc is an institutional owner operator of commercial properties in the top 10 German cities, using their long-standing experience to create value in underserved niche markets, such as micro living for students and professionals, workers’ accommodation and specialty commercial properties. EVAN is following in the footsteps of UNIMO Real Estate Holding AG, in which EVAN’s owners have completed numerous transactions over the past two decades. Using a best-in-class approach in corporate structure and governance, EVAN focuses on developing and operating real estate products specifically created for institutional investors. One example is IMOTEX in Düsseldorf (www.imotex.de), the largest and best-known Pronto Moda Center in Europe, with over 55,000 square metres of fully let rental space. Contact for further information: Dr. Charlotte Brigitte Looß Tel.: +49 (0) 69 94 41 80 63 E-Mail: IR@evan-group.com This publication and the information contained therein are not directed at or to be accessed by persons who are residents of the United States, who are physically present in the United States, who are otherwise “U.S. persons” as defined in Section 902 of Regulation S under the United States Securities Act of 1933, as amended (the “Securities Act”) or who are located in Canada, Australia or Japan or any jurisdictions in which the distribution of this publication or release of such information would be unlawful. Securities of EVANGroup plc cannot be offered or sold in the United States without registration under the Securities Act or pursuant to an exemption from such registration. EVANGroup plc has not registered, and does not intend to register, any of its securities under the Securities Act or to conduct a public offering of securities in the United States. This publication shall not be regarded as an investment advice or recommendation within the meaning of German Securities Prospectus Act or Directive 2003/71 /EC of the European Parliament and may not be used for an offering requiring such prospectus. EVAN Group Plc will not be responsible for the content of this document in relation to any offering which requires such a prospectus. This publication contains ‘forward-looking statements’. Forward-looking statements are all statements, which do not describe facts of the past, but containing the words “believe”, “estimate”, “expect”, “anticipate”, “assume”, “plan”, “intend”, “could”, and words of similar meaning. These forward-looking statements are subject to inherent risks and uncertainties since they relate to future events and are based on current assumptions and estimates of EVANGroup plc, which might not occur at all or occur not as assumed. They therefore do not constitute a guarantee for the occurrence of future results or performances of EVANGroup plc The actual financial position and the actual results of EVANGroup plc, as well as the overall economic development and the regulatory environment may differ materially from the expectations, which are assumed explicitly or implicitly in the forward-looking statements and do not comply to them. Therefore, investors are warned to base their investment decisions with respect to EVANGroup plc on the forward-looking statements mentioned in this publication.
02.10.2018 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | EVAN Group plc. |
St. Christopher Street 168 | |
VLT 1467 Valletta | |
Malta | |
E-mail: | info@evan-group.com |
Internet: | www.evan-group.de |
ISIN: | DE000A19L426 |
WKN: | A19L42 |
End of News | DGAP News Service |