EYEMAXX REAL ESTATE AG
DGAP-News: EYEMAXX Real Estate AG / Key word(s): Investment/Real Estate CORPORATE NEWS EYEMAXX acquires 14 percent equity interest in ViennaEstate and agrees strategic partnership EYEMAXX acquired the equity interest in ViennaEstate by contributing its B2C property development business in Austria and Germany and three of EYEMAXX's smaller-scale Austrian B2C property development projects as part of a non-cash capital increase at ViennaEstate. The smaller-scale projects are located in Vienna and the surrounding area and are not part of EYEMAXX's core project pipeline. They are accounted for with a figure in the low single-digit million euro amount in the EYEMAXX balance sheet. The deal does not affect EYEMAXX's current B2C property development projects in Germany. ViennaEstate Immobilien AG has many years of experience as a real estate investor and asset manager. The total value of the residential and hotel properties under management and held in the company's own portfolio amounts to around EUR 352 million. ViennaEstate has equity in the mid-double-digit million euro amount and works at a profit. The Austrian public limited company is privately owned and plans to continue disbursing significant dividends in future, which will also benefit EYEMAXX. Under the agreed strategic partnership, EYEMAXX will provide planning and development services as a preferred partner of ViennaEstate for B2C development projects in Germany and Austria. ViennaEstate plans to build up to 1,000 residential units as part of property development projects in these countries. This means that EYEMAXX will continue expanding its regular income based on both fees and dividend payments from ViennaEstate. Going forward, EYEMAXX will focus on higher-volume B2B projects for global sales to institutional investors. EYEMAXX also intends to add more selected attractive properties to its own portfolio to further boost its current income. Under the collaboration with ViennaEstate, EYEMAXX will generate service revenue without having to spend its own capital or maintain its own sales channels in the B2C domain. Dr. Michael Müller, CEO of EYEMAXX Real Estate AG, has been elected to the Supervisory Board of ViennaEstate Immobilien AG. About EYEMAXX Real Estate AG EYEMAXX's business activities take a dual-pronged approach. These include high-margin projects and also the continued expansion of its stocks of let commercial properties, which generate ongoing rental income and thus constant cash flows. In so doing, EYEMAXX uses the expertise offered by its experienced management team together with a strong team of real estate professionals, and also a well-established and broad network which opens up additional access to attractive properties and projects. The current project pipeline has thus been expanded to about EUR 900 million. Shares of EYEMAXX Real Estate AG are listed in the General Standard of the Frankfurt Stock Exchange. The company has also issued several bonds, which are also listed on the stock exchange. You can find more information at: www.eyemaxx.com Contact
Investor Relations / Financial Press
17.07.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
| Language: | English |
| Company: | EYEMAXX Real Estate AG |
| Weichertstraße 5 | |
| 63741 Aschaffenburg | |
| Germany | |
| Phone: | +49 (0) 6021 386 69 17 |
| Fax: | +49 (6021) 38 669 15 |
| E-mail: | office@eyemaxx.com |
| Internet: | www.eyemaxx.com |
| ISIN: | DE000A0V9L94, DE000A1TM2T3, DE000A12T374 , DE000A2AAKQ9 , |
| WKN: | A0V9L9, A1TM2T, A12T37, A2AAKQ |
| Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Stuttgart, Tradegate Exchange |
| End of News | DGAP News Service |
705477 17.07.2018
