DGAP-News: CONSUS Real Estate AG: CONSUS - Realised cash inflow of EUR 131 million from recent VauVau forward sale

Consus Real Estate AG ("CONSUS", ISIN DE000A2DA414), via its subsidiary company CG Gruppe AG in its core business unit "Development and Production of residential properties", has received the first purchase price payment of around EUR 131 million from its previously placed EUR 670 million forward sale in December 2017 of the VauVau (Vertical Village) project to an institutional investor. The underlying basis for the payment is the contractual procurement of the building permits for the three construction projects in Leipzig, Frankfurt / Offenbach and Düsseldorf by the project developer CG Gruppe.

In central locations of Leipzig, Dresden, Frankfurt / Offenbach, Dusseldorf and Cologne
CG Gruppe will develop over the next 3 to 4 years a total of more than 1,740 apartments with over 91,550 square meters of residential area and approximately 28,400 square meters of commercial space including over 940 parking spaces to be built under the "Vertical Village Apartments" VauVau brand.

The cash inflow of the first tranche for the EUR 670 million forward sale of 5 large projects to an institutional investor placed less than 4 months ago testifies the strong cash flow characteristics of the integrated forward sale model of CONSUS and CG Gruppe.

Press Contact:
RUECKERCONSULT GmbH
Peter Dietze-Felberg
Wallstrasse 16, D-10179 Berlin
+49 (0)30 28 44 987-62
consus@rueckerconsult.de
 

CONSUS Real Estate AG
Andreas Steyer, COO and Head of IP/IR
a.steyer@consus.ag
 

About Consus Real Estate AG
CONSUS Real Estate AG ("CONSUS"), based in Berlin, Germany, is with its development branch CG Gruppe the leading rental housing developer in the country's nine largest cities. CONSUS focuses on and has a strong track record of institutional forward sales, digitalization and industrial mass production along the entire development value chain. The project development activities are supplemented by a high-yield proprietary portfolio of commercial real estate in Germany. The stock of Consus Real Estate AG is listed on m:access, the mid-market portal of Bayerische Börse, and is traded via XETRA in Frankfurt.