GWB Immobilien AG
GWB finds investor for Völklingen development project
GWB Immobilien AG / Key word(s): Alliance 06.06.2011 / 08:30 Hamburg, 6. June 2011. GWB Immobilien AG has succeeded in finding a major investor for its 'City Center Völklingen' project. A fund company managed by Patron Capital Limited will be implementing the project together with GWB and will then be taking the property over afterwards. On the basis of a project realisation contract, GWB remains committed to continue development of the shopping centre for the investor and then to build, rent and manage it. The funding for the project has been secured as a result. The project is now to be implemented promptly. The aim is to start construction work this year. The investor is Patron Dieter II S.à.r.l., a company based in Luxembourg. Patron Capital Limited acts as the investment advisor for a number of funds operating throughout Europe that are known on the market as Patron Capital Partners. 'Partners with strong financial resources are necessary to enable projects of this size to be implemented', explains CEO Dr Norbert Herrmann. 'We are delighted to have succeeded in finding this fund as a partner. We will now be doing everything in our power to implement the City Center Völklingen project as quickly as possible.' About GWB Immobilien AG GWB is listed in the Prime Standard at Frankfurt Stock Exchange. Over a period of more than 15 years, the GWB corporate group has developed into a specialist for the implementation of large retail projects and for the revitalisation of retail properties. The focus is on medium-sized towns and suburban areas. The strength of the GWB business model is that the company acts as a single, integrated source for the provision of all the necessary services, covering the entire supply chain from project development and construction to marketing and management. More than 40 projects have been completed successfully. Further information is available on the company website www.GWB-Immobilien.de. Press inquiries: Kirchhoff Consult AG, Janina Wismar Phone: +49 (0) 40 60 91 86-50, janina.wismar@kirchhoff.de End of Corporate News --------------------------------------------------------------------- 06.06.2011 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: GWB Immobilien AG Hauptstraße 1a 22962 Siek Deutschland Phone: +49 4107 9080-0 Fax: +49 4107 908072 E-mail: info@gwb-immobilien.de Internet: www.gwb-immobilien.de ISIN: DE000A0JKHG0, DE000A0JRVH4, DE000A0JRVJ0 WKN: A0JKHG Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 127517 06.06.2011
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