The Management Board of Consus Real Estate AG (Consus), with the approval of the Supervisory Board, has resolved to divest 8 development projects with a GDV of EUR 2.0 billion. The development projects have been sold to Partners Immobilien Capital Management, a real estate fund, at a premium to the market values appraised as of 31 December 2019. The parties have agreed not to disclose the selling price. Consus will reduce its project finance debt due to this transaction by around EUR 390 million. Following this transaction, and combined with the impact of the previously announced divestments, the GDV will decrease to around EUR 8.0 billion and the number of development projects will decrease to 40. The divestment is subject to closing adjustments and conditions, and is expected to close in third quarter of 2020.