Aberdeen Immobilien Kapitalanlagegesellschaft mbH
DEGI Deutsche Gesellschaft für Immobilienfonds mbH: Unit price of the GRUNDWERT-FONDS rises by 1.16 euros, thanks to portfolio sale
DEGI Deutsche Gesellschaft für Immobilienfonds mbH / Miscellaneous Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Unit price of the GRUNDWERT-FONDS rises by 1.16 euros, thanks to portfolio sale From 4th of October new shares of GRUNDWERT-FONDS available Initial investment in Finland progresses the fund’s Europeanisation Frankfurt, 28 September 2007. The sale of the 'SPRING' portfolio from the GRUNDWERT-FONDS, comprising 37 German properties, to three companies of the Whitehall Fund managed by Goldman Sachs, has been completed with disposal of the properties and receipt of the purchase price payment in the fund on 28 September 2007. Because the portfolio was sold above the current market valuation of 2.43 bn euros, the unit price of the GRUNDWERT-FONDS on 28 September 2007 showed a one-off rise of 1.16 euros or 1.65 % to reach 71.35 euros. The one-year performance rises to 4.1 %. DEGI will be issuing from 4 October, 2007, again new shares of the fund (SIN: 980780, ISIN: DE0009807800), and cancel the suspension of share issuance in force since 7 May, 2007. With completion of the transaction, 59 % of the fund’s property holdings are located in Germany, and 41 % in the rest of Europe. 'In line with the progressive internationalisation of property markets and our proactive portfolio management approach, we aim to exploit investment opportunities on the European property markets, on the basis of the slimmed-down portfolio', says Bärbel Schomberg, Speaker of DEGI’s Management Board. Office complex purchased in Helsinki DEGI has already purchased an initial property in Helsinki for the GRUNDWERT-FONDS. The office complex, comprising three linked buildings, houses the Finnish IT group TietoEnator and will pass into the fund’s ownership before the end of October 2007 for a total investment costs of around 112.2 m euros. The property forms part of an office portfolio in Helsinki comprising three properties that DEGI is acquiring from the Finnish insurance companies VERITAS. The property is fully let, with a total rental area of 39,680 m², and is located in the extended inner-city district in the immediate vicinity of the first motorway ring. The three buildings, completed in 2005, can easily be divided up into smaller rental units. The Helsinki conurbation, with around 1.3 million residents, is the business, political and cultural capital of Finland. Its office property market comprises around 7.9 million m², with a current vacancy ratio of 7.0 %. Contacts for press inquiries: Marc Savani, telephone +49 69 263-14206, e-mail: marc.savani@degi.com Heinrich Durstewitz, telephone +49 69 263-14242, e-mail: heinrich.durstewitz@allianzgi.com These assessments are, as always, subject to the disclaimer provided below. Cautionary Note Regarding Forward-Looking Statements: Certain of the statements contained herein may be statements of future expectations and other forward-looking statements that are based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. In addition to statements which are forward-looking by reason of context, the words ‘may, will, should, expects, plans, intends, anticipates, believes, estimates, predicts, potential, or continue’ and similar expressions identify forward-looking statements. Actual results, performance or events may differ materially from those in such statements due to, without limitation, (i) general economic conditions, including in particular economic conditions in the Allianz Group's core business and core markets, (ii) performance of financial markets, including emerging markets, (iii) the frequency and severity of insured loss events, (iv) mortality and morbidity levels and trends, (v) persistency levels, (vi) the extent of credit defaults (vii) interest rate levels, (viii) currency exchange rates including the Euro-U.S. Dollar exchange rate, (ix) changing levels of competition, (x) changes in laws and regulations, including monetary convergence and the European Monetary Union, (xi) changes in the policies of central banks and/or foreign governments, (xii) the impact of acquisitions, including related integration issues, (xiii) reorganization measures and (xiv) general competitive factors, in each case on a local, regional, national and/or global basis. Many of these factors may be more likely to occur, or more pronounced, as a result of terrorist activities and their consequences. The matters discussed herein may also involve risks and uncertainties described from time to time in Allianz AG’s filings with the U.S. Securities and Exchange Commission. The company assumes no obligation to update any forward-looking information contained herein. 01.10.2007 Financial News transmitted by DGAP ----------------------------------------------------------------------
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