IC Immobilien Holding AG
IC Immobilien Holding AG: IC implements growth strategy
IC Immobilien Holding AG / Key word(s): Acquisition/Mergers & Acquisitions 15.09.2010 14:20 --------------------------------------------------------------------------- IC implements growth strategy - Increase in Assets Under Management from approx. EUR5bn to EUR7.8bn Unterschleißheim near Munich, 15 September 2010 - IC Real Estate Group merges with PropertyOne - the asset and property manager. PropertyOne GmbH, based in Frankfurt with an office in Berlin, has an international clientele. The company is in charge of a commercial property portfolio (located throughout Germany) which is jointly owned by Cerberus. The financial basis of the merger is an in-kind investment in return for an increase in capital. As a result, PropertyOne's shareholders of now, will have a 7% stake in IC Immobilien Holding AG. At their General Meeting last June - IC Immobilien Holding AG, following their property and asset management re-organisation, announced their rapid expansion path. The goal of the reorganisation was to more efficiently utilize their state-of-the-art IT platform which was developed over the past two years. By the end of 2011, managed investment volume is forecast to grow from EUR5bn to around EUR10bn. Together with PropertyOne, IC manages around EUR7.8bn. The merger has advantages for both companies. PropertyOne gains nationwide presence with eight business locations as well as a modern IT platform. IC Real Estate Group's decentralised position is strengthened and expanded due to PropertyOne's existing portfolio. As a result, investments made in the IT landscape can be used with a broader range of customers which, due to economies of scale, reduces costs. The company will operate under the name IC PropertyOne Asset und Real Estate Management GmbH; and together with its affiliate, IC Immobilien Service GmbH, is expected to become a serious competitor in the German asset and property management sector. 'Our vision to merge medium-sized property and asset managers to a powerful group was very well received. My colleague, Oliver Priggemeyer, and I are looking forward to strengthening our Group with PropertyOne and our management team with Guido Beddig, the former and future Managing Partner. In the next months, we want to develop our network further and enhance our power in the market', says Dr. Oscar Kienzle, Spokesman of the Board of IC Immobilien Holding AG. The two companies in figures:Key data IC PropertyOne IC PropertyOne Assets under approx. approx. approx. management EUR5bn EUR2.8bn EUR7.8bn Number of managed approx. 270 approx. 430 approx. 700 properties Number of tenants approx. 2,800 approx. 4,800 approx. 7,600 Rentable space approx. 1.5m sqm approx. 2.2m sqm approx. 3.7m sqm Occupancy rate > 90% 81.1% > 87% Employees approx. 140 57 approx. 197 Turnover 2009 EUR12.6m EUR3.4m EUR16mAbout IC Real Estate Group: IC Real Estate Group focuses on real estate services for German and international institutional investors. Moreover it manages its own, as well as, real estate funds for third-parties. The IC Real Estate Group currently manages assets to the tune of around EUR7.8bn. With 8 business locations and, at present, around 200 employees, it operates throughout Germany. IC is also located in North America with one office. The IC Real Estate Group has more than 20,000 private and institutional investors. Contact partners Stephan Holeczek IC Immobilien Holding AG Ohmstraße 4 D-85716 Unterschleißheim Phone: +49 (0) 89 / 55 22 7 - 362 Fax: +49 (0) 89 / 55 22 7 - 355 E-mail: investor.relations@ic-group.de 15.09.2010 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: IC Immobilien Holding AG Ohmstraße 4 85716 Unterschleißheim Deutschland Phone: +49 (0)89 / 55227-362 Fax: +49 (0)89 / 55227-355 E-mail: stephan.holeczek@ic-group.de Internet: www.ic-group.de ISIN: DE0005632160 WKN: 563216 Listed: Freiverkehr in Hamburg, München, Berlin, Stuttgart; Open Market in Frankfurt End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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