Vivico sells property in Berlin
Frankfurt/Main, 29 September 2003 - Vivico Real Estate reports the sale of an item of real estate in Berlin Steglitz. The Berlin Regional Office sold the land measuring 6,700 square metres for a seven-figure euro amount to the Bayreuth-based company Zapf GmbH. The property, which is intended to be used as residential land, has planning permission.
Wilhelm Brandt | Vivico Real Estate GmbH
Corporate Communication | Hedderichstrasse 55-57
60594 Frankfurt am Main | Tel.: +49 (0)69 606 27-0 | www.vivico.de
Vivico is one of Germany's leading real estate companies. The uniqueness of our portfolio stands out with spacious properties in the best city-centre locations, some of which are put on the market for sale and some of which Vivico develops itself as projects yielding a high return.
Vivico sees itself as a management company and employs around 170 real estate specialists (as at 1 January 2003). The shareholders of Vivico, which is organised as a company under private law, are BEV (94.99%) and the Federal Republic of Germany (5.01%). Vivico thus does not belong to the Deutsche Bahn AG Group. The company's Head Office and one Regional Office are located in Frankfurt am Main, further Regional Offices are located in Berlin, Cologne and Munich. The range of services offered by Vivico extends from project development to property management. In connection with a strategic realignment of the company the real estate portfolio was concentrated as at 1 January 2003 on around 220 properties of particularly strong lasting value. This process of focusing represents an important step, also in connection with Vivico's development towards readiness for the capital market. The clearly laid-out objective is the privatisation of the company.