Peach Property Group AG announced acquisition of 4,300 apartments in NRW and Bremen. The Group is thus increasing its portfolio by 19 % to around 27,500 apartments. The annual net rental income of the new portfolio amounts to approximately CHF 21 million, with a current vacancy rate of 5 percent. The properties were built between 1920 and 1990 and are predominantly in very good condition. As a result of ongoing refurbishments over the past few years and strong market growth, rental levels in the newly acquired portfolio exhibit a strong revisionary potential towards respective market levels. The market value of Peach Property Group's real estate portfolio will increase to around CHF 2.5 billion as a result of the purchase and target rental income will rise from around CHF 112 million to over CHF 134 million. The parties agreed not to disclose the purchase price or the seller. The transaction is expected to close in the second quarter of 2021. The new real estate portfolio includes 275,000 square meters of residential space, 800 square meters of commercial space and more than 1,500 parking spaces. With the exception of around 340 apartments in the Bremen metropolitan region, the portfolio is located in close proximity of existing Peach Property Group holdings in the Ruhr region. This will enable the Group to generate further economies of scale and leverage synergies - in addition to offering significant added value for the new tenants by integrating the new apartments into the tenant-centric business model including the existing network of Peach Points. To further strengthen its tenant-centric approach, Peach Property Group will also open an additional Peach Point in Marl, in the northern Ruhr region. Accordingly, the Group expects the acquisition to have a positive effect on the gross margin and FFO even in the short term. In order to finance the acquisition of the new portfolio, Peach Property Group will be raising a balanced mix of debt and equity capital. Following the acquisition, the Group will thus further reduce its LTV in line with its strategy and consequently aims to improve its credit rating in the short term. The Group also expects the EPRA NTA per share to increase from CHF 57.29 to well above CHF 60,00 in the short term.