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Provider: Reuters Investment Profile
Provider: Sadif Analytics Prime
Provider: Thomson Reuters StreetEvents
Provider: Sadif Analytics Prime

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TAG Immobilien AG Sells Three Residential Complexes to Union Investment Institutional Property GmbH

Thursday, 10 Jan 2013 04:02am EST 

TAG Immobilien AG (TAG) announced that at the end of 2012 that it has sold three residential complexes encompassing 1,384 residential units in Berlin for a total of EUR 87 million. The disposal results in pre-tax earnings of approximately EUR 12 million based on the IFRS booking values. The new owner of the residential complexes is Union Investment Institutional Property GmbH. The payment of the purchase price and the transfer of possession, rights and obligations are scheduled for the end of January 2013. 

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