Vivacon, the SDAX and DAX-listed German residential property company, has sold 489 residential and commercial assets to its WIAG Wohnimmobilien joint venture. The transaction volume amounted to EUR 26mln. Vivacon said its share of the annual ground lease payments on the portfolio, with a total of 31,800 m[sup]2[/sup] of living space, is expected to amount to about EUR 73,000.
Vivacon, the SDAX and DAX-listed German residential property company, has sold 489 residential and commercial assets to its WIAG Wohnimmobilien joint venture. The transaction volume amounted to EUR 26mln. Vivacon said its share of the annual ground lease payments on the portfolio, with a total of 31,800 m2 of living space, is expected to amount to about EUR 73,000.
Following this transaction, WIAG owns more than 4,800 units.
Vivacon announced on Wednesday that it has been listed on the new DAX International 100. The new index is designed to offer 'a platform of visibility' to domestic and foreign companies listed in Frankfurt.
'We are delighted about being accepted into the new DAX International 100. The affiliation is confirmation of the high liquidity of the Vivacon stock, which is a significant investment criterion for many investors', said Michael Jung, management board spokesman of Vivacon. 'This not least reflects the significance of Vivacon as one of the largest integrated German property investors and developers with some EUR 4bn.'
