DGAP-News: Colonia Real Estate AG sells shares of residential portfolio in Düsseldorf with profit


Colonia Real Estate AG / Disposal

17.09.2008 

Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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- Realized profit: 10 percent above book value
- Transformation of office building in apartments almost finished according
to schedule

Cologne, 17th of September 2008. Colonia Real Estate AG signed a sales
contract for 15 percent of the object Schanzentrasse 78 in Düsseldorf. In
August 2006 Colonia Real Estate as a co-investor bought 15 percent of the
investment vehicle 'Schanzenstrasse' in Düsseldorf with the goal to
transform the vacant office building into a high quality residential
building. Because the transformation process is almost successfully
completed, Colonia Real Estate now sold their shares in the business with a
profit of about 10 percent above book value. The closing of the transaction
is planned for the 30th of September. The market value of the transaction
equates 18.2 Mio Euro or 2,444 Euro per square meter living space. CRE
Resolution, the asset management subsidiary of Colonia Real Estate, will
further on be responsible for the project and asset management of the
building.
Stephan Rind, CEO of Colonia Real Estate: 'With this transaction we show
that we can highly increase the value of our investments beyond the actual
book value independent of the current market environment'.


Contact:
Stephan Rind
CEO

Colonia Real Estate AG
Zeppelinstr. 4-8
50667 Köln

Telefon: +49 (0)221 71 60 71 0
Fax:     +49 (0) 221 71 60 71 99
E-Mail:  ir@cre.ag

PR and Press Contact:
edicto GmbH
Axel Mühlhaus
Tel.: +49 (0) 69 9055055-2
amuehlhaus@edicto.de


DGAP 17.09.2008 
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Language:     English
Issuer:       Colonia Real Estate AG
              Zeppelinstr. 4 - 8
              50667 Köln
              Deutschland
Phone:        +49 221-716071-0
Fax:          +49 221-716071-99
E-mail:       info@cre.ag
Internet:     www.cre.ag
ISIN:         DE0006338007
WKN:          633800
Indices:      SDAX, GPR 250, MSCI Germany Small Cap Index, FTSE EPRA/
              NAREIT, E&G DIMAX
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Hannover, München, Hamburg, Düsseldorf, Stuttgart
End of News                                     DGAP News-Service
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