Deutsche REIT AG has sold profitably residential real estate. The proceeds from this transaction amounting to 17.9 million EUR are aimed to reduce liabilities in short term acquisition finance and to improve liquidity in order to finance further acquisitions in residential and commercial properties.
The portfolio makes part of the residential properties of Deutsche REIT AG.
The flats involved will generate further cash flow and are kept in title with Deutsche REIT AG. They shall be sold within the end of the year 2009.
The Management Board confirms its annual forecast 2008 achieving group earnings of 15.0 million EUR (IFRS before taxes).
The portfolio makes part of the residential properties of Deutsche REIT AG.
The flats involved will generate further cash flow and are kept in title with Deutsche REIT AG. They shall be sold within the end of the year 2009.
The Management Board confirms its annual forecast 2008 achieving group earnings of 15.0 million EUR (IFRS before taxes).
