GIEAG Immobilien AG: GIEAG sells a portfolio property in Heidenheim to Schwäbische Grundbesitz GmbH

München (pta036/28.11.2022/17:06 UTC+1)

With the notarization, the nationwide project developer and portfolio holder GIEAG Immobilien AG has finally completed the sale of its portfolio property in Heidenheim. The residential property contains 80 apartments and is fully let with the exception of two residential units.

Munich, 28.11.2022

- The residential complex with nine full stories encloses a large landscaped outdoor area and is accessed to the south. The property was built in 1964 with a rental area of 5,814 m², distributed over 80 residential units. The apartments, which are accessible via an elevator, are in good structural condition and feature well thought-out floor plans and balconies. The complex offers 27 parking spaces on a plot size of 7,129 m².

The apartment building is located in a quiet and natural location in the northwest of Heidenheim with optimal connections. The city center can be reached in a few minutes by bus. In addition, the central feeder roads can be reached in just a few minutes by car. There are numerous educational and leisure facilities in the vicinity of the ensemble, especially for families.

The buyer is Schwäbische Grundbesitz GmbH. The marketing of the "South Duo" asset is being supported by the Stuttgart and Munich residential investment team of BNP Paribas Real Estate GmbH. The transaction has been executed as an asset deal. The second existing property in "South Duo" is a residential complex in the Nuremberg region, which is also up for sale.

GSK Stockmann acted as legal advisor and Deloitte GmbH Wirtschaftsprüfungs- gesellschaft as tax advisor for GIEAG Immobilien AG.

About GIEAG Immobilien AG:

GIEAG is a family-run, Munich-based public limited real estate company. Shares in GIEAG Immobilien AG are traded on the Munich Stock Exchange as well as the Frankfurt Stock Exchange and Xetra. Combining three asset classes -– office, residential, and logistics – and two service areas – development and portfolio management – the company brings to market a range of uniquely stable investment opportunities. GIEAG's team of experts stands as a guarantor for innovative and forward-looking real estate investment concepts.

Over the past 22 years, GIEAG Immobilien AG has developed and optimised a substantial number of properties with floor areas of up to 145,000 square metres in projects involving individual investment of between EUR 15 million and EUR 150 million. Partnership, transaction security, consistency and agility are the guiding principles by which GIEAG Immobilien AG achieves its long-term goals of increasing shareholder value.

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Emitter:	GIEAG Immobilien AG Montgelasstraße 14 81679 München Germany
Contact Person:	Philipp Pferschy
Phone:	+49 89 290516-0
E-Mail:	ir@gieag.de
Website:	www.gieag.de
ISIN(s):	DE0005492276 (Share)
Stock Exchange(s):	Free Market in Munich