Divestment of Berlin residential units yields 6 million euros profit

Berlin, 4. June 2015: Westgrund AG has divested 419 residential units located in the center of Berlin and generated a profit of more than 6 million euros from this divestment. The sale to Accentro Real Estate AG, Berlin, was notarised today. The transaction price of a double digit million euros magnitude exceeds the fair value, calculated according to IFRS at the end of 2014, by about 20 percent. This equates to an increase of the NAV per share by 8 eurocents. Moreover, the transaction will increase liquid funds by slightly more than 16 million euros net before tax payments. The units comprise a total residential area of 22.000 square meters, were built between 1960 and 1962 and are practically completely rented out. From this portfolio, Westgrund AG had generated yearly net rental income of 1.5 million euros. Rights and obligations are expected to be transferred still before mid-year