Eastern European Property Regulatory News (EEP)

6 Feb 2007 07:00

Eastern European Property Fund Ltd06 February 2007 EASTERN EUROPEAN PROPERTY FUND LIMITED ACQUISITION As a result of an off-market sale and leaseback transaction Eastern EuropeanProperty Fund Limited ("EEPF") has acquired its first property in Romania forapproximately Euro 3.95 million in cash. The fully-let property is a warehouseand office complex and is being leased back for a minimum three year period tothe vendor, the German-headquartered international freight forwarding firm,Transalkim. The property, which is expected to yield in excess of 10%, islocated close to an important artery on the edge of southern Bucharest andcomprises 13,500sqm of land, 7,800sqm of warehouse space and 1,200sqm of officespace. A further 2,200sqm of warehouse space is under construction upon the samesite which the Company has agreed to purchase for a further consideration. EEPF, which raised £20 million in March 2006, has invested approximately £15.6million and continues active discussion on other property purchases. For further information contact: Elysium Fund Management Limited2nd FloorNo. 1 Le TruchotSt Peter PortGuernseyGY1 3JX This information is provided by RNS The company news service from the London Stock Exchange