IVG Immobilien AG

IVG sells 200-206 Regent Street, London for £50m to The Regent Street Partnership

Thu, 26 Jan 2012 10:32:00 +0100

With the sale of the property “Jaeger House” IVG achieves an excellent result for its investors and proves its local market expertise and the advantage of a well functioning local network

The property 200-206 Regent Street which was acquired for circa £40m in 2010 comprises 4,500 m² (48,000 ft²), including 2,700 m² (29,000 ft²) of retail space as well as 1,800 m² (19,000 ft²) of office space. Main tenant is the primarily UK-based fashion retailer Jaeger. After a holding period of less than one and a half years the building was sold for £50m. The yield on equity for IVG’s investors is significantly in the double-digits range. The buyer is The Regent Street Partnership a joint venture between The Crown Estate and Norges Bank Investment Management. Ali Abbas, Head of UK Transactions at IVG commented; “the quick sale was primarily based on the very good working relationship between IVG and The Crown Estate and in particular, their strategic approach towards Regent Street to realign and secure this area as one of the first class destinations of retail and office space”. IVG Immobilien AG
IVG Immobilien AG is one of the major real estate companies in Europe. The company manages assets worth approx. €22 billion and is located with approx. 590 employees in 19 selected major German and European cities. Via this network of local branches, IVG manages inter alia on balance properties with a market value of €4.1 billion. In northern Germany IVG constructs and operates underground storage caverns for oil and gas. In the fund segment IVG is the leading provider of tailored property funds for institutional investors. In combination with the closed-end funds for private investors, IVG manages funds and mandates amounting to a volume of €15.2 billion. Press Contact
Martin Praum
Tel.: +49 (0)228 / 844-300
Fax: +49 (0)228 / 844-372
E-mail: martin.praum@ivg.de

IVG triples transaction volume to €2.25 billion in 2011 – purchases worth billions targeted for institutional investors in 2012

Wed, 18 Jan 2012 09:26:00 +0100

- 130 individual transactions in Europe
- France, Germany, Sweden and Poland are the focal points
- Transaction volume to be maintained in 2012 After realigning the Transaction division, IVG Immobilien AG can look back on a 2011 that was very successful regarding transactions. In total, the transaction volume for IVG Investment and IVG Funds more than tripled year-on-year with around 130 individual transactions throughout Europe and a total volume of €2.25 billion. “We are confident that we will maintain the transaction volume at the level of last year and maybe even increase it in the new year, despite the market environment becoming more difficult", explains Oliver Zimper, Managing Director of IVG Asset Management GmbH being responsible for IVG’s global transaction business. He adds: “Alongside classic purchases for our special funds investors, we are planning new national and European club deals as follow-on products from the Silver Tower in Frankfurt, which was acquired in 2011 to one of the largest individual transactions in the German real estate market. In parallel, we will continue to intensify our sales programme both for our fund investors and for IVG’s own portfolio.” IVG is optimistic for 2012 and is targeting purchases worth approximately €1.5 billion especially for its institutional investors. As before, this will include screening at investments in retail property alongside the classic investments in office space. Regarding sales, the geographical focus of transactions in 2011 was France (50% of all sales), Germany (17%), Sweden (13%) and the UK (11%). Purchases were dominated by Germany (54%), Sweden (17%) and Poland (10%). IVG Immobilien AG
IVG Immobilien AG is one of the major real estate companies in Europe. The company manages assets worth approx. €22 billion and is located with approx. 590 employees in 19 selected major German and European cities. Via this network of local branches, IVG manages inter alia on balance properties with a market value of €4.1 billion. In northern Germany IVG constructs and operates underground storage caverns for oil and gas. In the fund segment IVG is the leading provider of tailored property funds for institutional investors. In combination with the closed-end funds for private investors, IVG manages funds and mandates amounting to a volume of €15.2 billion. Press Contact
Martin Praum
Tel.: +49 (0)228 / 844-300
Fax: +49 (0)228 / 844-372
E-mail: martin.praum@ivg.de

EuroSelect 21 Munich | IVG Private Funds: New fund to invest in headquarters of Allianz-Deutschland AG

Mon, 16 Jan 2012 09:07:00 +0100

Allianz administrative building and operations building in Munich-Unterföhring
More than EUR 50 million already placed

IVG Private Funds is launching a new closed-end real estate fund: EuroSelect 21 Munich. The new fund will invest in Allianz’s largest German site in Unterföhring (Munich district), consisting of a central administrative building and an operations building. The latter is also home to the group’s largest data centre worldwide. The two buildings, which have total floor space of around 131,000 m², are let to Allianz until at least 31 December 2024 under the terms of an indexed rental agreement. The forecast annual payments are 5.5%. More than EUR 50 million of the planned fund volume of around EUR 205 million has been successfully placed since the start of January. Germany’s largest insurance company as tenant
“The attractive location, the quality of the building and the financial standing and future prospects of the tenant mean that investors can obtain stable yields,” commented Christian Kühni, member of the Board of Management of IVG Immobilien AG. Allianz Deutschland AG bundles Allianz’s German insurance business (property, health and life insurance). Allianz is the market leader in Germany and one of the world’s largest insurance companies. In 2010, it generated annual revenues of more than EUR 28 billion. Over the past 20 years, Allianz has successively established Unterföhring as its largest site in Germany. It is currently home to around 6,300 employees, with a further 1,500 set to move to the location by 2014. Unterföhring is situated halfway between central Munich and Franz Josef Strauss Airport. It is extremely well connected to the motorway network and can be reached quickly using the S8 commuter train line. The building is located immediately next to Unterföhring station. The central administrative building, which Allianz moved into in 2004, has 65,000 m² of office and conference space and 926 underground parking spaces. The operations building, with floor space of around 65,000 m², is home to Allianz’s printing and data centres. The site performs Europe-wide IT infrastructure services for the Allianz Group and also boasts one of Germany’s largest digital print shops. Key data on the fund
The investment volume of the fund is around EUR 330 million. This consists of limited liability capital of EUR 205 million plus a 5% premium, and proportionate debt capital of EUR 115 million (leverage approx. 35%). Interested investors can invest in the fund from a minimum investment of EUR 10,000 plus a 5% premium. The total reflow of funds is forecast at around 179% before taxes. As a co-investor, IVG Immobilien AG is making a long-term investment of 10% in the EuroSelect 21 Munich property companies. IVG Immobilien AG
IVG Immobilien AG is one of the major real estate companies in Europe. The company manages assets worth approx. €22 billion and is located with approx. 590 employees in 19 selected major German and European cities. Via this network of local branches, IVG manages inter alia on balance properties with a market value of €4.1 billion. In northern Germany IVG constructs and operates underground storage caverns for oil and gas. In the fund segment IVG is the leading provider of tailored property funds for institutional investors. In combination with the closed-end funds for private investors, IVG manages funds and mandates amounting to a volume of €15.2 billion. IVG Private Funds GmbH is a hundred per cent subsidiary of IVG Immobilien AG. Press Contact
Martin Praum
Tel.: +49 (0)228 / 844-300
Fax: +49 (0)228 / 844-372
E-mail: martin.praum@ivg.de

“Green Power at IVG“

Wed, 04 Jan 2012 10:39:00 +0100

Within the framework of implementing its sustainability strategy IVG will take an important step forward. As a result of a tender for the delivery of green power, the Frankfurt-based Mainova AG will supply green power to a first tranche of around 50 German properties belonging to IVG. The green power which Mainova AG procures directly from the power plant operator consists to 100 % of hydroelectric power, and has been certified with the Green Power Label Gold. “In this way another step of transforming our real estate portfolio will be realized on the basis of sustainable criteria” said Thomas Beyerle, responsible for Corporate Sustainability at IVG. “The target properties have a current power consumption of 5,557,964 kWh per year. By switching to 100% green power our environment is being burdened by 3,129 tons less of carbon dioxide emissions per year” added Beyerle. Only green power products marked by high environmental benefits are awarded the GSL Green Power Label. Key criterion for the certification is that the utility company invests a fixed sum for every kilowatt-hour of green power sold into new renewable energy plants. In this case, 0.02 Euros/ kWh are invested in renewable energy facilities. By promoting environmentally friendly systems, green power translates into additional environmental benefits: It ensures an incremental change in the structure of power generation, and contributes to the advancement of so-called renewable power generation systems over and above the compliance with the German Renewable Energy Act. IVG Immobilien AG
IVG Immobilien AG is one of the major real estate companies in Europe. The company manages assets worth approx. €22 billion and is located with approx. 590 employees in 19 selected major German and European cities. Via this network of local branches, IVG manages inter alia on balance properties with a market value of €4.1 billion. In northern Germany IVG constructs and operates underground storage caverns for oil and gas. In the fund segment IVG is the leading provider of tailored property funds for institutional investors. In combination with the closed-end funds for private investors, IVG manages funds and mandates amounting to a volume of €15.2 billion. Press Contact
Martin Praum
Tel.: +49 (0)228 / 844-300
Fax: +49 (0)228 / 844-372
E-mail: martin.praum@ivg.de

IVG Institutional Funds buys Mlodziejowski Palace in Warsaw

Mon, 02 Jan 2012 11:44:00 +0100

IVG announces the acquisition of the Mlodziejowski Palace office building for approximately EUR 22.4 million from a company managed by Mermaid Properties. The property was acquired for the IVG Warschau Fonds, an investment fund managed by IVG Institutional Funds GmbH. Mlodziejowski Palace is a prestigious historic building, situated in the Old Town at Miodowa 10 Street. Following the recent refurbishment, commenced in September 2010, the property has been transformed into a unique modern office building providing Grade A office accommodation. The property totals ca. 6,940 sqm of leasable area. Mlodziejowski Palace is situated between Miodowa and Podwale Streets on the northern fringe of Warsaw City Centre, in the heart of the Old Town, providing excellent accessibility and visibility. The building’s main tenant is the Polish Ministry for Foreign Affairs and the occupiers of the premises leased by the Ministry are the Organisation for Security and Cooperation in Europe (OSCE) and the Office for Democratic Institutions and Human Rights (ODIHR). The property is also leased to an international consulting company, A.T. Kearney. ‘It is one of the highest profile office transactions of the year 2011 and we are pleased to add Mlodziejowski Palace to our growing office portfolio’ – said Maciej Zajdel, Managing Director of IVG Poland. ‘Warsaw remains the focus for international capital and this acquisition reinforces the international appeal of Warsaw for real estate investors, recognizing the long term strength of capital of the Poland office market. Mlodziejowski Palace is the third building acquired for the recently launched IVG Warsaw Fund (IVG Warschau Fonds)’ – he added. Mlodziejowski Palace also represents the fifth Warsaw office building acquisition of IVG for its various funds in the last 15 months and follows the purchases of Victoria Building, BTC, Ujazdowskie 10 and N21. CB Richard Ellis acted as a commercial advisor to IVG in the transaction and legal advice was provided by Siwek Law Office. DTZ acted as the Seller’s exclusive agent in the transaction. About IVG Immobilien AG
IVG Immobilien AG is one of the major real estate companies in Europe. The company manages assets worth €22 billion and is located with approx. 590 employees in 19 selected major German and European cities. Via this network of local branches, IVG manages inter alia on balance properties with a market value of €4.1 billion. In northern Germany IVG constructs and operates underground storage caverns for oil and gas. In the fund segment IVG is the leading provider of tailored property funds for institutional investors. In combination with the closed-end funds for private investors, IVG manages funds and mandates amounting to a volume of €15.2 billion. About IVG Institutional Funds
IVG Institutional Funds belongs to IVG Immobilien AG and offers specialized fund products for institutional investors. With €12.4 billion assets under management, IVG Institutional Funds is one of the leading European fund providers for institutional investors.
Press Contact
Martin Praum
Tel.: +49 (0)228 / 844-300
Fax: +49 (0)228 / 844-372
E-mail: martin.praum@ivg.de

IVG signs long-term lease contract with the University of Hamburg in the center of the Hanseatic City

Thu, 22 Dec 2011 16:30:00 +0100

IVG Immobilien AG managed to sign one of the largest individual lease contracts in Hamburg in 2011. The building which is owned by IVG will be fully let to the University of Hamburg. It consists of some 14,000 sqm and is located at Mittelweg, which is close to the “Außenalster”. “The lease is scheduled to begin on July 1st, 2012. Previously, the former publishing house will be renovated and customized to meet the tenant’s needs”, says Lars Flechsig, Branch Manager of IVG Immobilien AG in Hamburg. The lease contract has a duration of 10 years. The lessor has been advised by BNP Paribas. IVG Immobilien AG
IVG Immobilien AG is one of the major real estate companies in Europe. The company manages assets worth approx. €22 billion and is located with approx. 590 employees in 19 selected major German and European cities. Via this network of local branches, IVG manages inter alia on balance properties with a market value of €4.1 billion. In northern Germany IVG constructs and operates underground storage caverns for oil and gas. In the fund segment IVG is the leading provider of tailored property funds for institutional investors. In combination with the closed-end funds for private investors, IVG manages funds and mandates amounting to a volume of €15.2 billion. Press Contact
Martin Praum
Tel.: +49 (0)228 / 844-300
Fax: +49 (0)228 / 844-372
E-mail: martin.praum@ivg.de

Hotel Highlight Closes the Year – Hilton and Hilton Garden Inn open in THE SQUAIRE

Tue, 20 Dec 2011 09:00:00 +0100

Today two hotels, the Hilton and the Hilton Garden Inn, are opening at the same time in THE SQUAIRE at Frankfurt Airport. In the eastern part of the building there are therefore 249 rooms and suites in the Frankfurt Airport Hilton, and the Frankfurt Airport Hilton Garden Inn has 334 rooms. Whereas the Hilton offers the well-known standard, the Hilton Garden Inn is tailored especially to the needs of business travellers. Charles Muller, Cluster General Manager of both hotels, says with some satisfaction, “we are very glad to be represented with two hotels in this extraordinary property. Location and access are what makes an attractive location in our eyes, and THE SQUAIRE offers both. To this is added the comprehensive infrastructure in the building from which our guests also benefit. And naturally the architecture, which is an absolute highlight not only at the Airport.” IVG Immobilien AG also takes a positive view as building owner: “The opening of the hotels is a crowning conclusion for our opening year 2011“, says IVG managing director Dr. Wolfgang Schäfers. “With the many office tenants who have moved in, the many catering establishments and businesses which have opened, we have taken a large step forward. Added to this is the new letting of over 32,000 square metres in the year 2011, including to Deutsche Lufthansa AG. The idea of a NEW WORK CITY in THE SQUAIRE has already taken real shape today.” THE SQUAIRE is meanwhile around 82% let and in large part occupied. Deutsche Lufthansa will move into its 18,500 sqm in the spring. For 2012 the goal is a letting status of 95%. The next large step in the coming year is the taking into service of the public car park THE SQUAIRE Parking, which will make the building even more accessible with its 2,500 additional parking spaces. Background Information on THE SQUAIRE
Nearing completion at Frankfurt Airport, THE SQUAIRE is an international meeting point conceived as a radically new working and living environment. It resembles a whole city in microcosm under a single roof, situated directly at Germany’s main mobility hub. The concept of New Work City puts people centre stage as the key success factor of today’s knowledge society. Personal networks, time savings, and personal wellbeing form the basis for corporate success in the 21st century. That is why many of the facilities spread across a total of 140,000 sqm of usable floor area reconcile the spheres of working and living. Retailers, a supermarket, medical practices, a fitness club, numerous cafés and restaurants, a day-care centre, a beauty parlour, a pharmacy, and a drycleaner will thus form an integral part of the concept. Similarly, the exclusive “manager-lounge,” a business and conference centre, and a professional concierge service create added value for resident companies. Extending over a length of 660 m and a width of 65 m, this landmark structure built on top of the airport’s ICE high-speed train station counts among the world’s largest office buildings. In sync with the successive completion of each construction stage, tenants will keep moving in throughout 2011. THE SQUAIRE is to 97% owned by the IVG Immobilien AG, a real estate company based in Bonn, while the remaining 3% are held by airport operator Fraport AG. Background Information on IVG
IVG Immobilien AG is one of the major real estate companies in Europe. The company manages assets worth approx. €22 billion and is located with approx. 590 employees in 19 selected major German and European cities. Via this network of local branches, IVG manages inter alia on balance properties with a market value of €4.1 billion. In northern Germany IVG constructs and operates underground storage caverns for oil and gas. In the fund segment IVG is the leading provider of tailored property funds for institutional investors. In combination with the closed-end funds for private investors, IVG manages funds and mandates amounting to a volume of €15.2 billion. Contact:
Ann-Kristin Kehl
Referentin Media Relations
Tel.: +49 (0)69 / 606050-1473
E-mail: ann-kristin.kehl@ivg.de

IVG Research presents study on the change in energy policy

Tue, 22 Nov 2011 10:55:00 +0100

In Germany, the change in energy policy has resulted in big opportunities for real estate investors in the energy infrastructure sector. This is the result, albeit in somewhat abbreviated form, of a study published by researchers of IVG Immobilien AG in Bonn. Under the title “Investment in infrastructure: the turnaround in the energy policy offers opportunities” the analysts for the first time provide a comprehensive overview on the potential infrastructures and examine their opportunities-threats profile. “A new market is emerging – the market for energy infrastructure, which is defined in chronological order through the three components energy generation, storage and transport,” commented Thomas Beyerle, Head of Corporate Sustainability & Research at IVG. As a result of the politically publicised turnaround in the energy policy, this market will be driven by various trends: the need for reinvestment in infrastructure when government coffers are empty, lower expectations regarding the yield from traditional asset classes and the need for capital among existing investors in infrastructure. “With regard to investment characteristics, infrastructure facilities are distinguished by relatively high risk-adjusted returns (>8%) and little correlation (<0.3) in the trend in their performance with other asset classes. They are therefore an ideal means of diversifying asset portfolios”, Beyerle continued. Risks include government regulation, transparency and turnover frequency on the market for infrastructure investments. Other key results of the analysis:

Wind farms have become well established as an investment product in infrastructure funds in Germany.
To date, infrastructure investments based on solar energy in Germany have only paid off economically speaking because of substantial government subsidies and are thus an expression of political will.
At the beginning geothermal power stations risk entailing substantial costs through drilling in the wrong places but, if successful, offer their owners long term, stable, substantial returns. Their potential is not yet exhausted.
Hydroelectric power plants seem attractive because of their great efficiency in the conversion of energy and their suitability for grid-connected energy storage.
Tank farms are well established as investment properties because there is a functioning rental market and investment volumes are manageable. Locations with good connections (e.g. proximity to a port, pipeline connections) are particularly attractive.
Last but not least – implementation of the energy concept requires the development of suitable energy storage to ensure that a constant power can be guaranteed in the electricity grid.

At the end of the study there is an overview of the individual energy infrastructures.

Download: Investment in infrastructure: the turnaround in the energy policy offers opportunities
IVG Immobilien AG
IVG Immobilien AG is one of the major real estate companies in Europe. The company manages assets worth approx. €22.0 billion and is located with approx. 590 employees (FTE) in 19 selected major German and European cities. Via this network of local branches, IVG manages inter alia on balance properties with a market value of €4.1 billion. In northern Germany IVG constructs and operates underground storage caverns for oil and gas. In the fund segment IVG is the leading provider of tailored property funds for institutional investors. In combination with the closed-end funds for private investors, IVG manages funds and mandates amounting to a volume of €15.2 billion. Press contact
Martin Praum
Tel.: +49 (0)228 / 844-300
Fax: +49 (0)228 / 844-372
E-mail: martin.praum@ivg.de

IVG returns to profitability in third quarter of 2011 – extension of large-volume financing secured in line with planning

Fri, 11 Nov 2011 07:00:00 +0100

Following a consolidated net loss of -€68.8 million in Q2 2011, consolidated net result for Q3 2011 positive again at €3.0 million
FFO I positive again at €1.9 million
Net asset value per share virtually unchanged in Q3 2011 at €6.66 (NAV adj. per share at €8.66) – LTV stable at 73.0%
Key operating figures virtually stable: only minor change in like-for-like rents of -0.3% as against Q2 2011, occupancy rate at 89.1%
Significant progress achieved in optimising the financial structure

IVG Immobilien AG returned to profitability in the third quarter of 2011 with a consolidated net profit of €3.0 million after a loss of €68.8 million in the previous quarter. The value driver in the third quarter was again the Caverns business. Unrealised positive changes in market value totalling €21.7 million in the segment Investment (Caverns) more than compensated for unrealised negative changes in market value in the amount of €13.2 million in the segment Investment (Real Estate). Revenues increased to €121.0 million in Q3 2011 as against €105.6 million in Q2 2011, driven by property sales in the segment Investment (Real Estate) and revenues from letting fees (promote structure) in the segment Investment (Caverns). Due to non-recurring effects, the cost item of other operating expenses was up only slightly at €27.4 million in Q3 2011 as against €25.6 million in Q2 2011, but remains lower than the previous year’s level. (Q3 2011: €29.1 million) The financial result was negatively impacted in particular by non-cash valuation effects of financial instruments (-€15.5 million) and by foreign currency effects (-€6.1 million) in the third quarter of 2011. Overall, the financial result therefore fell from -€71.4 million in the second quarter of 2011 to -€75.6 million in the third quarter of 2011. The unrealised changes in value in the financial result amounting to -€21.7 million were almost offset by the tax results of €20.0 million. In contrast, net interest expenses improved by €3.6 million from -€52.4 million in the second quarter of 2011 to €-48.8 million in the third quarter of 2011. At €1.9 million, Funds from operations (FFO I) were again positive – as in the previous quarter – and show the current profitability on the basis of the company’s recurring cash flows. Liquidity amounted to €117 million and was thus at the same level as in the previous quarter (€116 million). Net asset value including the potential value of the cavern business (NAV adj.) amounted to €8.66 per share as at 30 September 2011. Reported net asset value was €6.66 per share. Neither of these key figures changed significantly as against the previous quarter. As already reported, in September 2011 the financing for THE SQUAIRE project development at Frankfurt Airport in the amount of €500 million was extended until the end of 2013 and, in addition, new financing of €35 million was concluded for the adjacent car park THE SQUAIRE Parking. Dr Wolfgang Schäfers, CEO of IVG Immobilien AG, said: “Operationally and financially we have made considerable progress, particularly in recent weeks. Back in October 2011, we reported that we were able to secure the extension of a portfolio financing in the amount of €145 million. However, the extensions that we have now secured for the “CORE” financing in the amount of €933 million and for the “Syndicated Loan II” financing in the amount of €1,047 million, with planned new terms until December 2015 and September 2014 respectively are particularly pleasing. Both agreements constitute an important step towards improving our financial and risk structure. As a result of these extensions, we no longer have any major maturities of liabilities to banks within the next two years. With a view on the future business at IVG, Dr Schäfers noticed in addition: “This enables IVG at the same time to participate more actively in market again. With the purchase of Silver Tower (Silberturm) property in Frankfurt am Main at the end of October 2011 through a consortium of investors led by IVG, we also achieved another success in implementing IVG Immobilien AG’s investment platform strategy defined in 2010.” According to this strategy, IVG selectively acts as co-investor in institutional investment products from the property and infrastructure segments. Successful placements in the last years include the IVG Cavern Fund, the IVG Protect Fund and the IVG Premium Green Fund.” IVG Immobilien AG
IVG Immobilien AG is one of the major real estate companies in Europe. The company manages assets worth approx. €22.0 billion and is located with approx. 590 employees (FTE) in 19 selected major German and European cities. Via this network of local branches, IVG manages inter alia on balance properties with a market value of €4.1 billion. In northern Germany IVG constructs and operates underground storage caverns for oil and gas. In the fund segment IVG is the leading provider of tailored property funds for institutional investors. In combination with the closed-end funds for private investors, IVG manages funds and mandates amounting to a volume of €15.2 billion. Press contact
Martin Praum
Tel.: +49 (0)228 / 844-300
Fax: +49 (0)228 / 844-372
E-mail: martin.praum@ivg.de

IVG secures early extension of credit lines totaling c€2.0bn

Thu, 10 Nov 2011 16:58:00 +0100

IVG Immobilien AG made significant progress in optimizing its financial structure. Based on a binding agreement between IVG Immobilien AG and the syndicate banks the Syndicated Loan 2009 (also known as “SynLoan II”) could be extended early. The syndicated financing was originally due in 4Q 2012 and will now be prolonged by 12 domestic banks until 3Q 2014. The current credit volume is €1,047m and continued redemption payments have been agreed financed through a pre-agreed sales program of caverns to a specialized fund structured by IVG investing in caverns (IVG Caverns Fund). IVG expects a slight increase in cost of debt short term, with overall falling cost of debt over the lifetime of the financing. In addition an early extension of the “CORE“- financing with three German banks originally maturing in 3Q 2012 could be secured. The consortium will provide the financing of €933m now until December 2015. Here IVG expects financing costs to decrease. The secured agreements are solely pending the corresponding credit documentation and implementation of the agreed securitization concept. With these latest achievements IVG in a short period of time extended a significant amount of its short term debt, therefore making a further major step on its way to realign its financing structure. In total debt extensions of c€2.6bn in short term credit lines were secured in the last few weeks, leading to a significant improvement of the company’s financial- and debt maturity profile. IVG Immobilien AG
IVG Immobilien AG is one of the major real estate companies in Europe. The company manages assets worth approx. €22.0 billion and is located with approx. 580 employees (FTE) in 19 selected major German and European cities. Via this network of local branches, IVG manages inter alia on balance properties with a market value of €4.1 billion. In northern Germany IVG constructs and operates underground storage caverns for oil and gas. In the fund segment IVG is the leading provider of tailored property funds for institutional investors. In combination with the closed-end funds for private investors, IVG manages funds and mandates amounting to a volume of €15.4 billion. Press Contact
Martin Praum
Tel.: +49 (0)228 / 844-300
Fax: +49 (0)228 / 844-372
E-mail: martin.praum@ivg.de