Finances property package in state of Hesse with securitised loan of €550 million

The CA Immo Group has acquired a portfolio with a value of around €770 million from the German state of Hesse. The portfolio comprises 36 properties with around 170 buildings. The state of Hesse will remain the primary long-term tenant. Annual rental income is approximately €42 million with rental contacts subject to an average minimum term of approximately 25 years.

 

In the course of closing shortly before Christmas, a financing loan of €550 million was raised for the Hesse portfolio with Eurohypo (of Frankfurt and London) and Bank Austria Creditanstalt (of Vienna). Securitisation of the financing loan is expected to take place in the second quarter of 2007 and will be aimed at private as well as institutional investors. Apart from gaining an attractive real estate portfolio containing such landmark buildings as the economics and education ministries for Hesse, the credit rating of a long-term tenant like the state of Hesse (which has an AA rating from Standard & Poor’s) will be critical in terms of placement.

 

This transaction conforms with CA Immo’s strategy of pursuing a long-term portfolio policy based on stability.

 

The CA Immo Group

In the 20 years since CA Immobilien Anlagen AG was founded in 1987, the company has developed into one of Austria’s leading property companies. CA Immobilien Anlagen AG invests in commercial real estate, including offices, business hotels, shopping centres, logistics parks and storage facilities. As of 30th June 2006, the company’s portfolio comprised 153 properties with a total effective area of around 861,200m² and a market value of €1.266 billion. Rental income for the 2005 fiscal year amounted to €54.5 million; consolidated net income stood at €58.7 million. CA Immo is listed on the Vienna Stock Exchange; with free float of around 95%, it is a public company in every sense.

 

 

 

Please address any questions to:

 

CA Immobilien Anlagen AG

Dr. Bruno Ettenauer

Mag. Andrea Bauer

Gregor Drexler

Tel.: 01-532 5907

Fax: 01-532 5907 510

E-mail: office@caimmoag.com

www.caimmoag.com

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