GWIK.L Regulatory News (GWIK)

26 Oct 2006 07:01

Dawnay, Day Treveria PLC26 October 2006 26 October 2006 Dawnay, Day Treveria PLC Acquisition of two retail property portfolios in Germany for €214 million Dawnay, Day Treveria PLC ("Treveria" or "the Company") is pleased to announce ithas agreed to acquire two retail property portfolios for an aggregateconsideration of €214 million, increasing the total property assets of thecompany owned or notarised to around €1.7 billion. These acquisitions formedpart of the €451 million in solicitors' hands referred to in the recentannouncement of Treveria's interim results. The acquisitions comprise 47 properties, including two large shopping centres,located in various towns across Germany including Lubeck, Monchengladbach,Solingen, Wilhelmshaven and Bochum. Major tenants include H&M, Rewe, Media Marktand Deichmann. In aggregate, the gross current yield* and net initial yield** of theacquisitions announced today is 7.6% and 6.5% respectively. Ian Henderson, Chairman of Treveria said: "These acquisitions are strongadditions to our portfolio. The Asset Manager now employs over 50 people in itsGerman property management office who are not only increasing the value of theexisting portfolio but are also becoming a principal source for acquisitions.Looking ahead, we are well positioned, with a strong pipeline and we areconfident of building a €2.3 billion portfolio within the timescale set." Completion of the acquisitions referred to above will take place followingsatisfaction of standard administrative conditions. Enquiries: Dawnay, Day Treveria Real Robert Goldsmith 020 7834 8060Estate Asset ManagementLimited www.dawnaydaytreveria.com Cardew Group Tim Robertson 020 7930 0777 Shan Shan Willenbrock Catherine Maitland Notes: * Gross current yield refers to the passing rent divided by purchase price(excluding all transaction costs). ** Net initial yield refers to the passing rent, less ground rents andirrecoverable costs, divided by the purchase price (including all transactioncosts). DTR listed on the AIM market on 14 December 2005 and raised €408.9 million byway of an offer to institutional investors (including the exercise of theover-allotment option), together with a €35.5 million direct investment byaffiliates of the Dawnay, Day Group. The Company intends to use the fundsraised, together with debt funding, to acquire a property portfolio worth up toapproximately €2.3 billion in the 12 to 18 months following admission. This information is provided by RNS The company news service from the London Stock Exchange